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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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 Spring '08
 HUDGINS

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