THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 16

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
A sample of 25 bottles is taken from the production line at a local bottling plant.Assume that the fill amounts follow a normal distribution.
-The length of time it takes a stock analyst to complete an evaluation of a company's earnings forecast is normally distributed with a mean of 6.7 hours.From looking at the time spent by an analyst evaluating 36 randomly selected stocks you find that the sample mean was 6.4 hours.If you are told that the probability of getting a sample mean this small or smaller is 0.10,what must the population standard deviation have been?

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Definitions:

Merit Pay System

A compensation strategy that offers monetary rewards to employees based on their performance and achievements, aimed at motivating and retaining high performers.

Pay Increases

Adjustments made to employees' wages or salaries to reflect changes in performance, market rates, or cost of living.

Job Attitudes

The set of feelings, beliefs, and thoughts that employees have about their jobs.

Stock Options

Financial instruments that give the holder the right, but not the obligation, to buy or sell shares of a company’s stock at a predetermined price and date.