The Length of Time It Takes for a Stock Analyst

question 120

Essay

The length of time it takes for a stock analyst to complete an evaluation of a company's earnings forecast is normally distributed with a standard deviation of 1.7 hours.From looking at the time spent by an analyst evaluating 15 randomly-selected stocks you find that the sample mean was 6.4 hours.If you know that the probability of getting a sample mean this large or larger is 0.36,what is the mean of the population?

---

Definitions:

Private Property

The right of private persons and firms to obtain, own, control, employ, dispose of, and bequeath land, capital, and other property.

Economically Most Efficient

The state where resources are allocated in a way that maximizes the production of goods and services at the lowest cost.

Labor and Capital

The primary factors of production, where labor refers to human work effort and capital to tools, equipment, and buildings used in production.

Government Subsidized Property Insurance

Insurance programs supported by the government to make coverage available and affordable, often in high-risk areas.