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Question 10 (5 points) Organizational psychologists at Chemical Products are concerned about excessive turnover among production employees. Before pursuing a remedy, though, they want to
Question 10 (5 points) Organizational psychologists at Chemical Products are concerned about excessive turnover among production employees. Before pursuing a remedy, though, they want to gather more information. Data from the personal files of a sample of 50 employees it is found that the mean duration of employment was ac = 24. 2 months. Based on the sample data, the researchers felt confident in estimating the population standard deviation at o = 9 months. Develop a 95% confidence interval to estimate the mean duration of employment for the entire population of the production employees. Determine the standard error of the sampling distribution of T (Round to two place decimal) A/ At 95% confidence, what is the margin of error? (Round to two place decimal) Develop the 95% confidence interval for the population mean (Round to two place decimal): A/ to Interpretation (Round to the nearest months): The researcher can be 95% certain that average production employee will remain with Chemical Products for between A/ and months before quitting.Question 11 (6 points) According to a financial institution, the average daily balance of its customers' checking accounts / is $400. The institution estimates (based on the historical data) that the population standard deviation o of $60. A random sample of 144 checking accounts is selected. What is the expected value of the sampling distribution of ac? At 95% confidence level, what is the margin of error (Round to two place decimal): Develop the 95% confidence interval estimate of the customers' average daily balance (Round to the nearest dollars) : A/ to What is the probability that the sample mean will be at least $398 (Round to two place decimal) A/
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