Jobs and productivity! How do retail stores rate? One way to answer this question is to examine annual profits per employee. The following data gives annual profits per employee (in units of 1 thousand dollars per employee) for companies in retail sales. Assume ≈ 4.5 thousand dollars.
3.7 6.6 3.7 8.1 8.3 5.4 8.3 6.1 −1.2 4.5 2.1 5.1
Part A: Find x for the preceding data. ___________ thousand dollars per employee
(Round your answer to two decimal places.)
Part B: Let us say that the preceding data are representative of the entire sector of retail sales companies. Find an 80% confidence interval for , the average annual profit per employee for retail sales. (Round your answers to two decimal places.)
Lower limit _________ thousand dollars?
Upper limit _________ thousand dollars?
Part C: Find an 95% confidence interval for , the average annual profit per employee for retail sales. (Round your answers to two decimal places.)
Lower limit ________ thousand dollars?
Upper limit ________ thousand dollars?
