Sky High Crane Company employs 150 workers and has a gross payroll of $282,100 per week. Fringe benefits are 6 1 _ 2 % of gross payroll for sick days and holiday leave, 9.1% for health and hospital insurance, 4.6% for the retirement fund, and $10.70 per employee per week for a stock purchase plan. a. What is the total weekly cost of fringe benefits for the company? b. What percent of payroll does this represent?c. What is the companys annual cost of fringe benefits?
Stat 2000: Elementary Statistics Week One: Aug. 11th to 18th Defining Statistics Statistics consists of: ● Formulating a research question ● The collections of data ● Describing data ● Drawing conclusions or generalizations from data Statistics is the science of learning from data. The Statistical Method 3 main components to answering statistical questions: ● Design ○ How the data is obtained ○ Valid inferences cannot be made without a good design ● Description ○ Summarizing the data obtained ○ Helps to identify patterns in the data ● Inference ○ Making predictions or decisions based on the data 1.2: Population and Samples The population is the sed off all individuals we are interested in studying. A sample is the subject of the population for whom we have data. Subjects are the individuals who make up the sample. Population Sample Subjects The entire voting 200 randomly Each voter public selected in the voters sample Every MLB player 60 randomly Each selected player in players the sample All 159 counties in 40 randomly Each