The Following Data Shows the Yearly Income Distribution of a Sample

question 62

Essay

The following data shows the yearly income distribution of a sample of 200 employees at MNM, Inc.
a.What percentage of employees has yearly incomes of more than $35,000?
b.Is the figure (percentage) that you computed in Part a an example of statistical inference? If no, what kind of statistics does it represent?
c.Based on this sample, the president of the company said that "45% of all our employees' yearly incomes are over $35,000." The president's statement represents what kind of statistics?
d.With the statement made in Part c, can we be assured that more than 45% of all employees' yearly incomes are at least $35,000? Explain.
e.What percentage of employees of the sample has yearly incomes of $29,000 or less?f. How many variables are presented in the above data set?g. The above data set represents the results of how many observations?

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