Question: How do retail stores rate? One way to answer this question is to examine annual profits per employee. The following data give annual profits per employees (in units of one thousand dollars per employee) for companies in retail sales. Companies such as Gap, Nordstrom, Circuit City, Dillard’s, JC Penney, sears, Wal-Mart, are included. Assume

a. Use a calculator or the appropriate computer software to verily that, for the preceding data,?x

b. Let us say that the proceeding data are representative of the entire sector of retail sales companies. Find an 80% confidence interval for, the average annual profits per employee for retail sales.

c. Let us say that you are the manager of a retail store with a large number of employees. Suppose the annual profits per employee are less than 3 thousand dollars per employee. Do you think that this might be low compared with other retail stores? Explain by referring to the confidence interval you computed in part (b).