Jobs and productivity! How do banks rate? One way to answer this question is to

Question

Jobs and productivity! How do banks rate? One way to answer this question is to examine annual profits per employee. The following is data about annual profits per employee (in units of one thousand dollars per employee) for representative companies in financial services. Assume 10.4 thousand dollars.

29.2 59.3 33.4 36.2 29.2 29.9 57.9 27.1 42.5 33.0 33.6 36.9 27.0 47.1 33.8 28.1 28.5 29.1 36.5 36.1 26.9 27.8 28.8 29.3 31.5 31.7 31.1 38.0 32.0 31.7 32.9 23.1 54.9 43.8 36.9 31.9 25.5 23.2 29.8 22.3 26.5 26.7 he 0 53 369 319 2. (a) Use a saleulator Round yourners to tvo decinal places.) X theusand delars (e) Let us say that you ae the manager ofa lacal bask with a langeb Seppe" the an.ual Prelits pe' emeleye. les·than 30 mausand dolars per .ne yee. De Veu hink m" mia-ba sennhat lov" the confdence in part (b) O Na. This cosfidence interval suggests that the bank profits do not dffer from those of ether financal institutions. 0 No. This confidence interval suggests that the bank profts ane higher than those of other financal inatutions O No. This canfidence interval suggests that the bank profts do not differ from those of other fnancial inatiut * Yes. This confidence intervaluggents ehat the bask preAts ore higher than these of other financial natitutions es. This cendence interval suggests that the bank profits de sat dner 6rem ose of other tnancial institutions x thousand doilars x thousand delars

Explanation / Answer

One-Sample Z: data

The assumed standard deviation = 10.4

Variable N Mean StDev SE Mean 75% CI
data 42 33.35 8.57 1.60 (31.50, 35.20)

a.

X bar=33.35

b. 75% CI is  (31.50, 35.20)

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