A Simple Random Sample of 8 Employees of a Corporation $\begin{array} { l }\text { Employee }&1&2&3&4&5&6&7&8\\\text { Age }&52&32&26&40&50&54&22&23\\\text { gender }&M&M&M&M&F&M&M&F\end{array}$

question 113

Short Answer

A simple random sample of 8 employees of a corporation provided the following information.
$\begin{array} { l }\text { Employee }&1&2&3&4&5&6&7&8\\\text { Age }&52&32&26&40&50&54&22&23\\\text { gender }&M&M&M&M&F&M&M&F\end{array}$

a. Determine the point estimate for the average age of all employees.
b. What is the point estimate for the standard deviation of the population?
c. Determine a point estimate for the proportion of all employees who are female.

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Definitions:

Incremental Choices

Decisions made by comparing the additional benefits and costs of a little more or a little less of some activity.

Margin

In finance, the difference between the selling price and the cost of the goods sold, often expressed as a percentage of sales.

Economic Activity

The actions that involve the production, distribution, and consumption of goods and services in an economy.

Marginal Analysis

An examination of the benefits and costs of one additional unit of change.