Quiz_4_sp_06_KEY - ECON 2843 Quiz 4 Spring 2006 Name ID #...

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ECON 2843 Name Quiz 4 Spring 2006 ID # Students must show all work on problems that involve calculation. 1. The U.S. BLS publishes data on the hourly compensation costs for production workers in manufacturing for various countries. For Greece, the average manufacturing wage is $9.63 and the standard deviation for hourly wages is $1.12. You may assume that the population is normal. If the business council of Greece takes a random sample of 15 workers, there is a 90% probability that the sample standard deviation of the hourly wage will be less than what number? 1.3737 2. The Travel Weekly International Air Transport Association survey asked business travelers about the purpose for their most recent business trip. Nineteen percent responded that it was for an internal company visit. Suppose 950 business travelers are randomly selected. What is the probability that between 16% and 20% of the business travelers say that the reason for their most recent business trip was an internal company
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Quiz_4_sp_06_KEY - ECON 2843 Quiz 4 Spring 2006 Name ID #...

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