The net sales and the number of employees for aluminum fabricators with similar

Question

The net sales and the number of employees for aluminum fabricators with similar characteristics are organized into frequency distributions. Both are normally distributed. For the net sales, the mean is $180 million and the standard deviation is $25 million. For the number of employees, the mean is 1,500 and the standard deviation is 120. Clarion Fabricators had sales of $170 million and 1,850 employees.

Convert Clarion's sales and number of employees to z values. (Negative amount should be indicated by a minus sign. Round your answers to 2 decimal places.)

Net sales are standard deviations (Click to select)abovebelow the mean. Employees is standard deviations (Click to select)abovebelow the mean.

Compare Clarion's sales and number of employees with those of the other fabricators. (Round your answers to 2 decimal places.)

% of the aluminum fabricators have greater net sales compared with Clarion. Only % have more employees than Clarion.

Convert Clarion's sales and number of employees to z values. (Negative amount should be indicated by a minus sign. Round your answers to 2 decimal places.)

Explanation / Answer

as z score =(X-mean)/std deviation

Clarion's sales z score = (170-180)/25 =-0.4

clarion number of employees z score =(1850-1500)/120 =2.9167

Net sales are 0.4 standard deviations below

Employees is 2.9167standard deviations above

65.54 % of the aluminum fabricators have greater net sales compared with Clarion. Only 0.18% have more employees than Clarion.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.