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See Attachment for all 4 questions. Human Resou...

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See Attachment for all 4 questions. Human Resource Consulting (HRC) is surveying a sample of 68 firms in order to study health care costs for a client. One of the items being tracked is the annual deductible that employees must pay. The state Bureau of Labor reports the mean of this distribution is $499 with a standard deviation of $80. (a) Compute the standard error of the sample mean for HRC. (Round your answer to 2 decimal places.) Standard error (b) What is the chance HRC finds a sample mean between $477 and $527? (Round z value to 2 decimal places and final answer to 4 decimal places.) Probability (c) Calculate the likelihood that the sample mean is between $492 and $512. (Round z value to 2 decimal places and final answer to 4 decimal places.) Probability (d) What is the probability the sample mean is greater than $550? (Round z value to 2 decimal places and final answer to 4 decimal places.) Probability

 

Paper#13120 | Written in 18-Jul-2015

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