/*! This file is auto-generated */ .wp-block-button__link{color:#fff;background-color:#32373c;border-radius:9999px;box-shadow:none;text-decoration:none;padding:calc(.667em + 2px) calc(1.333em + 2px);font-size:1.125em}.wp-block-file__button{background:#32373c;color:#fff;text-decoration:none} Q114E Salary offers to MBAs.聽Consider... [FREE SOLUTION] | 91影视

91影视

Salary offers to MBAs.Consider the top salary offer (in thousands of dollars) received by each member of a sample of 50 MBA students who graduated from the Graduate School of Management at Rutgers, the state university of New Jersey. Descriptive statistics and a box plot for the data are shown on the XLSTAT printouts at the top of the next column. [Note:The 鈥+鈥 on the box plot represents the location of the mean.]

a.Find and interpret the z-score associated with the highest salary offer, the lowest salary offer, and the mean salary offer. Would you consider the highest offer to be unusually high? Why or why not?

b.Based on the box plot for this data set, which salary offers (if any) are suspect or highly suspect outliers?

Short Answer

Expert verified

Answer:

  1. z-score for the highest salary = 2.45
    1. z-score of the lowest salary = -1.87
    2. z-score of the mean salary = 0
  1. Suspect outliers are between $25,962.5 and $6,200; and $78,662.5 and $98,425

A highly suspect outlier is above $75,000 and below $35,000

Step by step solution

01

Finding and interpreting the z-score for the highest, lowest, and mean salary offer

zscorehighestsalary=Max-MeanStandardDeviation=$75,000-$52,334$9,224=2.45

The z-score for the highest salary is 2.45. Because the z-score is less than 3, it is a possible outlier.

zscorelowestsalary=Min-MeanStandardDeviation=$35,000-$52,334$9,224=-1.87

The z-score of the lowest salary indicates that it is not an outlier.

zscoremeansalary=Mean-MeanStandardDeviation=$52,334-$52,334$9,224=$0$9,224=0

The mean salary offer lies within the range and is not an outlier.

No, I would not consider the highest salary offer as unusually high because it is not an outlier and lies well within the 3 standard deviations from the mean range.

02

Finding the suspect and highly suspect outliers

Suspect outliers lie between the inner and outer fences.

The inner fences are the first and the third quartiles. Therefore, QL = $45,725 and QU = $ 58,900.

The outer fences are approx. $75,000 and $35,000.

SuspectOutliers=QL-1.5IQRandQL-1.5IQR=45,725-1.513,175and45,725-313,175=45,725-19,762.5and45,725-39,525=$25,962.5and$6,200

SuspectOutliers=QU+1.5IQRandQU+1.5IQR=58,900+1.513,175and58,900+313,175=58,900+19,762.5and58,900+39,525=$78,662and$98,425

Any observations that lie between $25,962.5 and $6,200; and $78,662.5 and $98,425 are suspect outliers.

Highly suspect outliers lie above or below the outer fences.

Therefore, any observation above $75,000 and below $35,000 is a highly suspect outlier.

Unlock Step-by-Step Solutions & Ace Your Exams!

  • Full Textbook Solutions

    Get detailed explanations and key concepts

  • Unlimited Al creation

    Al flashcards, explanations, exams and more...

  • Ads-free access

    To over 500 millions flashcards

  • Money-back guarantee

    We refund you if you fail your exam.

Over 30 million students worldwide already upgrade their learning with 91影视!

One App. One Place for Learning.

All the tools & learning materials you need for study success - in one app.

Get started for free

Most popular questions from this chapter

Improving SAT scores.The National Education Longitudinal Survey (NELS) tracks a nationally representative sample of U.S. students from eighth grade through high school and college. Research published in Chance (Winter 2001) examined the Standardized Assessment Test (SAT) scores of 265 NELS students who paid a private tutor to help them improve their scores. The table summarizes the changes in both the 厂础罢鈥揗补迟丑ematics and 厂础罢鈥揤别谤产补濒 scores for these students.

厂础罢鈥揗补迟丑

厂础罢鈥揤别谤产补濒

Mean change in score

19

7

Standard deviation of score changes

65

49

a.Suppose one of the 265 students who paid a private tutor is selected at random. Give an interval that is likely to contain this student鈥檚 change in the 厂础罢鈥揗补迟丑 score.

b.Repeat part afor the 厂础罢鈥揤别谤产补濒 score.

c.Suppose the selected student increased his score on one of the SAT tests by 140 points. Which test, the SAT鈥 Math or 厂础罢鈥揤别谤产补濒, is the one most likely to have the 140-point increase? Explain.

Consider the following three measurements: 0, 4, and 12. Find the z-score for each measurement if they are from a population with the following mean and standard deviation equal to

a.碌 = 2 and 蟽 = 1

b.碌 = 4 and 蟽 = 2

c.碌 = 8 and 蟽 = 2

d.碌 = 8 and 蟽 = 8

Ranking driving performance of professional golfers.Refer to The Sport Journal(Winter 2007) analysis of anew method for ranking the total driving performance ofgolfers on the PGA tour, Exercise 2.52 (p. 97). Recall thatthe method uses both the average driving distance (yards)and driving accuracy (percent of drives that land in thefairway). Data on these two variables for the top 40 PGAgolfers are saved in the accompanying file. A professionalgolfer is practicing a new swing to increase his averagedriving distance. However, he is concerned that his drivingaccuracy will be lower. Is his concern a valid one? Explain.

Motivation of drug dealers.Consider a study of drug dealers and their motivation for participating in the illegal drug market (Applied Psychology in Criminal Justice, September 2009). The sample consisted of 100 convicted drug dealers who attended a court-mandated counseling program. Each dealer was scored on the Wanting Recognition (WR) Scale, which provides a quantitative measure of a person鈥檚 level of need for approval and sensitivity to social situations. (Higher scores indicate a greater need for approval.) The sample of drug dealers had a mean WR score of 39, with a standard deviation of 6. Assume the distribution of WR scores for drug dealers is mound-shaped and symmetric.

a.Give a range of WR scores that will contain about 95% of the scores in the drug dealer sample.

b.What proportion of the drug dealers had WR scores above 51?

c.Give a range of WR sores that contain nearly all the scores in the drug dealer sample.

Network server downtime.A manufacturer of network computer server systems is interested in improving its customer support services. As a first step, its marketing department has been charged with the responsibility of summarizing the extent of customer problems in terms of system downtime. The 40 most recent customers were surveyed to determine the amount of downtime (in hours) they had experienced during the previous month. These data are listed in the table.

Customer Number

Downtime

Customer Number

Downtime

230

12

250

4

231

16

251

10

232

5

252

15

233

16

253

7

234

21

254

20

235

29

255

9

236

38

256

22

237

14

257

18

238

47

258

28

239

0

259

19

240

24

260

34

241

15

261

26

242

13

262

17

243

8

263

11

244

2

264

64

245

11

265

19

246

22

266

18

247

17

267

24

248

31

268

49

249

10

269

50

a.Construct a box plot for these data. Use the information reflected in the box plot to describe the frequency distribution of the data set. Your description should address central tendency, variation, and skewness.

b.Use your box plot to determine which customers are having unusually lengthy downtimes.

c.Find and interpret the z-scores associated with the customers you identified in part b.

See all solutions

Recommended explanations on Math Textbooks

View all explanations

What do you think about this solution?

We value your feedback to improve our textbook solutions.

Study anywhere. Anytime. Across all devices.