Vacation Days the Distribution of the Number of Vacation Days

question 72

Essay

Vacation days The distribution of the number of vacation days per year offered by different U.S. companies is skewed to the right.
a. We collect data on the number of vacation days from a random sample of 60 companies across the United States. Why is it okay to use these data for inference even though the population is skewed?
b. The mean and standard deviation of the 60 companies in our sample were 22 days and 9 days, respectively. Specify the sampling model (shape, center, spread) for the mean
number of vacation days of such samples.
c. Find a 95% confidence interval for the mean number of vacation days offered by U.S.
companies.
d. Explain what "95% confidence" means in this context.

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Definitions:

Financial Control

A management function that focuses on monitoring and directing an organization's financial resources and operations to meet its objectives.

Ethical Failure

Situations where individuals or organizations fail to act in a morally right or legally prescribed manner, leading to harm or corruption.

Business Incubators

Organizations designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services.

Business Accelerators

Organizations or programs that offer support services and funding opportunities to startups or early-stage businesses to spur their growth.