Answer to Question #120273 in Statistics and Probability for daniel

Question

QUESTION 3 Jay –Ethan Company is a multi-billion pharmaceutical company that has won a contract by the government to produce hand sanitizers and respiratory gadgets for frontline health workers in Bono East region. As a result, the company has decided to give bonuses to its employees to motivate them for the risky task ahead. A sample of the weekly bonus received by the employees is organized in the table below: Weekly Bonus ($) 30<35 35<40 40<45 45<50 50<55 55<60 60<56 65<70 Number of employees(f) 8 6 10 5 15 4 9 3 NB: Approximate to 2 decimal places i) Find the mean amount of bonus given to the employees. ii) Calculate the standard deviation and interpret it. iii) What is the modal amount paid? iv) Would you say the bonus distribution follows the standard normal distribution? Why? v) Calculate the coefficient of variation for the bonus distribution of Jay-Ethan and compare it with the coefficient of variation of 19.45% for the bonus distribution of KGH, a subsidiary of Jay-Ethan.

Answer 1

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