Problem 2 Imagine a database from the Gallogly College of Engineering that contained the starting salaries...

Question

Question

math Statistics-And-Probability

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

for increment of 1000:

new value X =Y+1000

mean E(X)=E(Y)+1000

medium =median(Y)+1000

std deviation SD(X)=SD(Y)

for increment in 5%

X=1.05Y

mean E(X)=1.05*E(Y)

median =1.05/median(Y)

std deviation =1.05*SD(Y)

therefore :

change in	increase of $1000	increase of 5%
mean	increase by 1000	increase by 5%
median	increase by 1000	increase by 5%
std deviation	does not change	increase by 5%

Add a comment

Answer 2

Similar Homework Help Questions

Problem 2 Imagine a database from the Gallogly College of Engineering that contained the starting salaries...

Problem 2 Imagine a database from the Gallogly College of Engineering that contained the starting salaries for a sample of Spring 2018 graduating engineers. Recreate the following table and fill out at the intersections what happens to each of the sample statistics when every salary is altered by the specified amount. Due to an increase in every salary b $1000 5% Change in Mean Median Standard deviation
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed...

Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed to be approximately the same. A recruiting office thinks that the mean mechanical engineering salary is actually lower than the mean electrical engineering salary. The recruiting office randomly surveys 42 entry level mechanical engineers and 54 entry level electrical engineers. Their mean salaries were $46,000 and $46,900, respectively. Their standard deviations were $3450 and $4210, respectively. Conduct a hypothesis test at the 5% level...
{Exercise 8.27 (Algorithmic)}. Annual starting salaries for college graduates with degrees in business administration are generally...

{Exercise 8.27 (Algorithmic)}. Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $40,000 and $50,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. What is the planning value for the population standard deviation (to the nearest whole number)? 3750 How large a sample should be taken if the desired margin of error is as shown below to the nearest whole number)? a. $500? 216...

Exercise 8.27 (Algorithmic)} Annual starting salaries for college graduates with degrees in business administration are generally...

Exercise 8.27 (Algorithmic)} Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $30,000 and $50,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. What is the planning value for the population standard deviation (to the nearest whole number)? 3750 How large a sample should be taken if the desired margin of error is as shown below (to the nearest whole number)? a. $500? 216...
Difficulties Attracting and Retaining Human Capital in the Nursing Profession Imagine a job that pays well...

Difficulties Attracting and Retaining Human Capital in the Nursing Profession Imagine a job that pays well above national averages and provides many opportunities for continuing education, specialization, and career advancement. It allows you to be active every day and to make a real difference in others’ lives, along with the kind of scheduling flexibility some describe as “fantastic!”208 Would you sign up? Strong salaries, lifelong learning opportunities, three-day workweeks, and meaningful work are common facets of a nursing career. And...

Problem 2 Imagine a database from the Gallogly College of Engineering that contained the starting salaries...

Homework Answers