Need to prepare a Business Report of approximately 1500 words and, in addition, approximately 2-3 pages of MegaStat output from MS Excel, including numbers, tables, and pictures from the following case study:
The International Business Travel Expense Case
Suppose that a large international corporation wishes to obtain its own benchmark for one-day travel expenses in Moscow. To do this, it records teh one-day travel expenses for a random sample of 35 executives visiting Moscow. The mean and the standard deviation of these expenses are calculated to be x = $538 and s = $41. Furthermore, a histogram shows that the expenses are approximiately normally distributed.
a. Find an interval that we estimate contains 99.73 percent of all one-day travel expenses in Moscow.
b. If an executive submits an expense of $720 for a one-day stay in Moscow, should this expense be considered unusually high? Why or why not?