Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. human resource consulting (hrc) surveyed a random

Human Resource Consulting (HRC) surveyed a random sample of 66 Twin Cities construction companies to find...

80.2K

Verified Solution

Question

Statistics

Human Resource Consulting (HRC) surveyed a random sample of 66Twin Cities construction companies to find information on the costsof their health care plans. One of the items being tracked is theannual deductible that employees must pay. The Minnesota Departmentof Labor reports that historically the mean deductible amount peremployee is $499 with a standard deviation of $100.

1. Compute the standard error of the sample mean for HRC.

2. What is the chance HRC finds a sample mean between $477 and$527?

3. Calculate the likelihood that the sample mean is between $492and $512.

4. What is the probability the sample mean is greater than$530?

Answer & Explanation Solved by verified expert
3.9 Ratings (685 Votes)
1Standard error is    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

T.J. is a 46-year-old science professor brought to urgent care this afternoon by his wife. T.J....

Biology
Q

In potentiometer a balance point is obtained when 1 The e m f of the...

Physics
Q

A flask contains carbon monoxide and carbon dioxide gases The partial pressures of each are...

Physics
Q

A capillary tube of length 50 cm is closed at both ends In contains air...

Physics
Q

A hollow copper tube of 10 m length has an external diameter of 20 cm...

Physics
Q

(20 pts) Write the multiplication table of a finite field of 16 elements using theirreducible...

Basic Math
Q

One study claimed that 89 of college students identify themselves as procrastinators A professor believes...

Statistics
Q

which two factors should be considered when selecting an accounting system? responses 1)the size of...

Accounting
Q

Use an Excel spreadsheet to find the selling price (present value) of a three-year $100,000...

Accounting
Q

Tony and Suzie graduate from college in May 2021 and begin developing their new business....

Accounting
Q

32. An underfunded pension plan means that the: A. PBO is less than plan assets....

Accounting
Q

Sandoval needs to determine its year-end inventory. The warehouse contains 25,000 units, of which 3,500...

Accounting