Compute The Standard Error Of The Sample Mean For Hrc
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Human Resource Consulting (HRC) is surveying a sample of 60 Twin cities in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The Minnesota Department of Labor reports the mean of this distribution is $502 with a standard deviation of... show https://answers.yahoo.com/question/index?qid=20121019171835AAlZvVg more Human Resource Consulting (HRC) is surveying a sample of 60 Twin cities in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The Minnesota Department of Labor reports the mean of this distribution is $502 with a standard deviation of $100. a) Compute the standard error of the sample mean for HRC. b) What is the chance HRC finds a sample mean between $477 and $527? c) Calculate the likelihood that the sample mean is between $492 and $512. d) What is the probability the sample mean is greater than $550? If you can show me how to do it step by step with the answer, i will greatly appreciate it !!! XOXO Update: . Follow 1 answer 1 Report Abuse Are you sure you want to delete this answer? Yes No Sorry, something has gone wrong. Trending Now Lil Uzi Vert Elina Svitolina Dolly Parton Krista Miller Matt Kenseth Skin Care Products Jennifer Taylor Stephen Curry 2016 Crossovers VA Loans Answers a) 100/√ 60 =12.91 _ b) P(477 Explore My list Advice Scholarships RENT/BUY SELL MY BOOKS STUDY HOME TEXTBOOK SOLUTIONS EXPERT Q&A TEST PREP HOME ACT PREP SAT PREP PRICING ACT pricing SAT pricing INTERNSHIPS & JOBS CAREER PROFILES ADVICE EXPLORE MY LIST ADVICE SCHOLARSHIPS Chegg home Books http://www.chegg.com/homework-help/questions-and-answers/human-resource-consulting-hrc-surveying-sample-66-firms-order-study-health-care-costs-clie-q2736310 Study Tutors Test Prep Internships Colleges Home home / study / math / statistics and probability https://asnugroho.wordpress.com/2010/07/09/statistics-probability-final-examination-solutions/ / questions and answers / human resource consulting (hrc) is surveying a ... Question: Human Resource Consulting (HRC) is surveying a sam... Human Resource Consulting (HRC) is surveying a sample of 66 firms in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The state Bureau of Labor reports the standard error mean of this distribution is $498 with a standard deviation of $85. (a) Compute the standard error of the sample mean for HRC. (Round your answer to 2 decimal places.) Standard error (b) What is the chance HRC finds a sample mean between $477 and $527? (Round z value to 2 decimal places and final answer to 4 decimal places.) Probability (c) Calculate the likelihood that the sample mean is between $492 and $512. (Round z value to 2 decimal standard error of places and final answer to 4 decimal places.) Probability (d) What is the probability the sample mean is greater than $550? (Round z value to 2 decimal places and final answer to 4 decimal places.) Probability Best answer Get this answer with Chegg Study View this answer OR Find your book Find your book Practice with similar questions Q: Human Resource Consulting (HRC) is surveying a sample of 70 firms in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The state Bureau of Labor reports the mean of this distribution is $500 with a standard deviation of $75.(a) Compute the standard error of the sample mean for HRC. (Round your answer to 2 decimal places.)Standard error(b) What is the chance HRC finds a sample mean between $477 and $527? (Round z value to 2 decimal places.)Probability(c) Calculate the likelihood that the sample mean is between $492 and $512. (Round z value to 2 decimal places.)Probability(d) What is the probability the sample mean is greater that $550? (Round z value to 2 decimal places.)Probability A: See answer Q: Human Resource Consulting (HRC) is surveying a sample of 64 firms in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The state Bureau of Labor reports the mean of this distri by Anto Satriyo Nugroho PROBLEM 1 The individual score of Statistics & Probability Class was reported as below 72 73 78 78 72 75 70 78 92 82 87 93 88 55 77 90 78 63 73 73 85 65 92 80 62 77 73 73 49 80 a) Organize the data using stem-leaf display (4 points) b) Calculate the mean and standard deviation (4 points) c) Create the box plot of the data (show the formula and how the quartiles are calculated ! not only the answers). (4 points) d) Calculate the skewness of the data using Pearson’s method, and name the shape of the frequency polygons based on the skewness. (4 points) e) Define the range of values which is categorized into outliers. (4 points) Answer a) stem Leaf 4 9 5 5 6 2,3,5 7 0,2,2,3,3,3,3,3,3,5,5,5,8,8,8,8 8 0,0,2,5,7,8 9 0,2,2,3 b) Mean: 76.1 Standard Deviation: 10.32 c) Min: 49 Max:93 Q1:72 Q2:77 Q3:82.75 then draw the box plot using these values d) skewness= 3(mean-median)/standarddeviation = 3(76.1-77)/10.33 = -0.26 (moderately negative skewed) e) Outliers > Q3+1.5(Q3-Q1) or < Q1-1.5(Q3-Q1) Q3+1.5(Q3-Q1) = 98.75 Q1-1.5(Q3-Q1)=55.875 Hence, outliers are defined for values > 98.875 or < 55.875 PROBLEM 2 (Chapter 5, Bayes Theorem) A cell phone salesperson has kept records on the customers who visited the store. 40% of the customers who visited the store were female. Furthermore, the data show that 35% of the females who visited his store purchased a cell phone, while 20% of the males who visited his store purchased a cell phone. Let A1 represent the event that a customer is a female, A2 represent the event that a customer is a male, and B represent the event that a customer will purchase a phone. a) What is the probability that a male customer will purchase a cell phone? Based on above description, since 20% of males who visited the store purchased a phone, the probability that a male customer will purchase a cell phone is P(B|A2)=20% (0.2) b) What is the probability that a female customer will purchase a cell phone? Based on above description, since 35% of the females who visited the store purchased a phone, the probability that a female customer will purchase a cell phone is P(B|A1)=35% (0.35) c) The salesperson has just informed us that a cell phone was purchased. What is the probability that