SOLUTION: A large corporation employs 26744 individuals. the average income several years ago for all employees was $74363 with a standard deviation of $19563.
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Question 1143746: A large corporation employs 26744 individuals. the average income several years ago for all employees was $74363 with a standard deviation of $19563.
you are interested in comparing the income of todays employees with those of several years ago. a random variable of 400 employees of the corporation yields x = $75468 and s = $ 18,844.
a. find the sampling distribution of the sample mean.
b. find the standard error of the mean Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! The sample follows a t-distribution with a mean of $75468 and a standard deviation of $18844/sqrt(400) or $942.20 with df=399.
The SEM is s/sqrt (n) or $942.20
