A Random Sample of 25 Employees of a Local Utility

question 59

Short Answer

A random sample of 25 employees of a local utility firm showed that their monthly incomes had a sample standard deviation of $112. Provide a 90% confidence interval estimate for the standard deviation of the incomes for all the firm's employees.

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Definitions:

Internal Control Strategy

Measures adopted by an organization to ensure accuracy and integrity of its financial reporting, compliance with laws and regulations, and efficiency of operations.

High Degree

A significant amount or level of something, often indicating intensity, quality, or scale.

Trust

The belief in the reliability, truth, ability, or strength of someone or something, critical in personal and professional relationships.

Feedback Controls

A mechanism in systems and organizations used for adjusting operations and outputs based on differences between actual outcomes and desired outcomes.