Question
A study of the career paths of hotel general managers sent questionnaires to a random sample of 97 hotels belonging to major U.S. hotel chains.
A study of the career paths of hotel general managers sent questionnaires to a random sample of 97 hotels belonging to major U.S. hotel chains. The average time these 97 general managers had spent with their current company was 12.75 years. (Take it as known that the standard deviation of time with the company for all general managers is 1.8 years.)
(a) Find the bound for an 80% confidence interval to estimate the mean time a general manager had spent with their current company:years
(b) Find the bound for a 99% confidence interval to estimate the mean time a general manager had spent with their current company:years
(c) In general, increasing the confidence levelthe bound of the confidence interval. (Enter: ''DECREASES'', ''DOES NOT CHANGE'' or ''INCREASES'', without the quotes.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started