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Salary of a travel management professional. According to a
Chapter 5, Problem 24E(choose chapter or problem)
Problem 24E
Salary of a travel management professional. According to a National Business Travel Association (NBTA) 2010 survey, the average salary of a travel management professional is $96,850. Assume that the standard deviation of such salaries is $30,000. Consider a random sample of 50 travel management professionals and let x̄ represent the mean salary for the sample.
Questions & Answers
QUESTION:
Problem 24E
Salary of a travel management professional. According to a National Business Travel Association (NBTA) 2010 survey, the average salary of a travel management professional is $96,850. Assume that the standard deviation of such salaries is $30,000. Consider a random sample of 50 travel management professionals and let x̄ represent the mean salary for the sample.
ANSWER:
Solution:
Step 1 of 6:
The average salary of a travel management professional is $96,850.
The standard deviation is $30,000, and n = 50.
= the mean salary for the sample.