A Survey of 16 Executives Showed a Mean Work Time

question 14

Essay

A survey of 16 executives showed a mean work time per week of 50 hours, with a standard deviation of 10 hours. What is the 95% confidence interval for the population mean?

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Definitions:

Systematic Approach

A methodical plan of action that follows a specific sequence of steps to solve a problem or achieve a goal.

Managing Diversity

The practice of acknowledging, understanding, accepting, and valuing differences among people with respect to age, class, ethnicity, gender, physical and mental ability, race, sexual orientation, spiritual practice, and public assistance status.

Competitive Advantage

A business's unique ability to perform better than its competitors due to superior products, services, or operations.

Strategic Advantage

A benefit that enables an organization to outperform its competitors.