The EAI data has information on the annual incomes of managers and whether they have attended the training program or not. This data comprise all the 2500 managers that work for this organization.

Using this information, address the following questions:

Select a simple random sample of 150 managers and another of 250 managers and calculate the point estimates for the population mean, standard deviation, and proportion.

How do the results you obtained for n = 150 and n = 250 compare to the population information? Can you make any conclusion out of this? Why and why not? What do you think will happen in the long run if you continue to take repeated samples for n = 150, and n = 250.

The EAI data gives the annual salary of managers and also information on whether a manager had training or not. Use a sample size of n = 150 to test if the mean annual income is equal to $52,000.00.

Use the same sample in (c) to test if the proportion of managers that had training is 0.6.

How to answer all these questions using excel?