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Lowe's Companies, Inc., doing business as Lowe's, is an American retail company specializing in home improvement. Headquartered in Mooresville, North Carolina, the company operates
Lowe's Companies, Inc., doing business as Lowe's, is an American retail company specializing in home improvement. Headquartered in Mooresville, North Carolina, the company operates a chain of retail stores in the United States and Canada. Lowe's is examining the difference in hourly pay between their part-time and full-time employees, where part-time employees are those who work no more than 28 hours week. Based on the data collected, it is assumed that the population mean hourly pay for part-time employees is $11.50 and the population standard deviation is $0.57. Suppose a random sample of 40 part-time employees is drawn and each employee's hourly pay is recorded. The probability that the random sample of 40 part-time employees have mean hourly pay that is between $11.39 and $11.53 Is Use only the appropriate formula and/or statistical table in your textbook to answer this question. Report your answer to 4 decimal places, using conventional rounding rules. Twenty percent of the samples of n = 40 part-time employees drawn from this population will have a sample mean hourly pay that is no more than $ Use only the appropriate formula and/or statistical table in your textbook to answer this question. Report your answer to 2 decimal places, using conventional rounding rules.
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