A Random Sample of 10 Waitresses in Darwin Revealed the Following

question 71

Essay

A random sample of 10 waitresses in Darwin revealed the following hourly earnings (in dollars, including tips): $$\begin{array} { | r | r | r | r | r | r | r | r | r | r | } \hline 19 & 18 & 15 & 16 & 18 & 17 & 16 & 18 & 20 & 14 \\\hline\end{array}$$ If the hourly earnings are normally distributed with a standard deviation of $4.5, estimate with 95% confidence the mean hourly earnings for all waitresses in Darwin.

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Definitions:

Dividends

Payments made by a corporation to its shareholder members, typically out of its profits.

Accounts Payable

Accounts Payable is a liability account on a company's balance sheet representing money owed to suppliers or creditors for goods and services received but not yet paid for.

Trial Balance

A bookkeeping report that lists the balances of all ledgers accounts to check that debits equal credits in the double-entry accounting system.

Debits

Debits refer to an accounting entry that results in either an increase in assets or expenses or a decrease in liabilities or equity on a company's balance sheet.