The distribution of weekly salaries at a large company is right skewed with a mean of $1000 and a standard deviation of $350. What is the probability that the sampling error made in estimating the mean weekly salary for all employees of the company by the mean of a random sample of weekly salaries of 50 employees will be at most $50?
2 answers
The probabilities are based on a normal (not skewed) distribution. Calculations will be in error, depending on the degree of skewness.
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2 answers