Estimate the average seniority for the full population

Assignment Help Econometrics
Reference no: EM13208486

You want to estimate the average years of seniority for employees working for Kaneko Ltd. The files of 49 workers are selected at random. Average seniority for those in the sample is 13.6 years. Assume you know the population standard deviation is 5.2 years.

Construct and interpret a 95% confidence interval estimate of average seniority for the full population of company employees.

Reference no: EM13208486

Questions Cloud

What percentage of the days was trading volume : The average number of shares traded daily on the New York Stock Exchange during the past year was 1.9 million. If the distribution of daily trading volume is approximately normal, with a center at 1.9 million shares and a standard deviation of .25..
Validity for the traits extroversion and intellegence : Create a MTMM matrix. Show convergent and discriminant validity for the traits extroversion and intellegence
Identify the margin of error term and standard error term : estimate the average years of seniority for employees working for Kaneko Ltd. The files of 49 workers are selected at random. Average seniority for those in the sample is 13.6 years. Assume you know the population standard deviation is 5.2 years.
Multiple theories to explain a social phenomenon : What might be a problem with using multiple theories to explain a social phenomenon? What might be a problem with using only one theoretical model to explain a social phenomenon ?
Estimate the average seniority for the full population : estimate the average years of seniority for employees working for Kaneko Ltd. The files of 49 workers are selected at random. Average seniority for those in the sample is 13.6 years. Assume you know the population standard deviation is 5.2 years.
Collectivist cultures-attention to nonverbal behaviors : Since collectivist cultures pay more attention to nonverbal behaviors, they are better at expressing both positive and negative emotions.
State the null and alternative hypothesis : ChooChoo Paper Company makes various types of paper products. One of their products is a 30 mils thick paper. In order to ensure that the thickness of the paper meets the 30 mils specification, random cuts of paper are selected and the thickness o..
Calculate the organizations cost of equity : Locate ten organizations that currently pay a common stock cash dividend. enter the ticker symbol of an S&P 500 company in the quote box, and see whether it indicates that the company pays a dividend.
What is the implication of the efficiency wage theory : (a) reduce shirking by employees and (b) reduce employee turnover What is the implication of the efficiency wage theory for unemployment In what way are piece rates, commissions, royalties, profit sharing, and stock options substitutes for efficie..

Reviews

Write a Review

Econometrics Questions & Answers

  Determine interest rate

The football coach at Midwestern university was given a 5 year employment contract that paid $225,000 the first year, and increased 8% uniform rate in each subsequent year. At the end of the first year the alumni demanded that he be fired.

  Determine interest compounded monthly

Determine the two equal deposits, the first deposit required now and the second deposit at the end of year 6, so that you can withdraw $2,000 at the end of each year for the next 12 years. Assume that money earns 4% interest, compounded monthly.

  Compute the ae in the economy of timberland

After this change, the interest rate is found to be below the equilibrium interest rate. Describe the effect of this level of interest rate on the price of bonds, the need for cash balances, the opportunity cost for holding money.

  What are the shapes of the avc and mc curves for firm

The firm believes that AVC varies with the level of output and wages. Alan Anderson, the economist in the research department of the firm, collects monthly data on output (the number of diskettes produced), average variable costs, and wage rates p..

  Which of the coefficients are statistically significant

Chez Henri is a restaurant chain that operates in 40 different cities. It hired an economist to estimate the factors affecting the demand for its sales. The following equation was estimated using cross sectional data from each of its 40 restaurant..

  What is the change in consumer surplus after rent control

Assume that the market equilibrium rent for two-bedroom apartments in Santa Monica, California is $1500 per month and the quantity is 40,000 units. The city council of Santa Monica establishes a rent control of $1200 per month on two-bedroom apart..

  How much output will each of firm produce

Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC=2q^2, where q is the amount that an individual firm produces. This means that an individual firm's marginal cost is given by MC=4..

  How many hours of labor should xyz hire to maximize profit

Firm XYZ measured its MP of labor curve. XYZ produces gadgets that are sold for $20 each and is able to hire workers for $10 per hour. How many hours of labor should XYZ hire each day to maximize its profits.

  What should be production level if fixed cost rose per month

If software can only be produced in the quantities above, what should be the production level if the producer operates in a monopolistic competitive market where the price of software at each possible quantity is also listed above

  Why diesel units will be kept in service for 4 years

The purchase price for the diesel is $97,995, the engine size is 300 hp, the average speed is 21.4, the fuel consumption is 17 gallons per hour and fuel capacity is 300 gallons. Insurance premiums are $500 more per year for gasoline powered boats.

  How much need to set aside at end of each of next five years

save the down payment required to purchase a vacation home at the end of five years.if the required down payment is $25,000 and you can earn 5% year on your saving account how much do you need to set aside at the end of each of the next five years

  How much are households paid for providing entrepreneurship

suppose tht businesses buy a total of 100$ billion of the four resources(labor, land, capital and entreprenrial ability) from households. If households receive 60$ billion in wages, 10$ billion in rent and 20$ billion in interest

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd