5

Exercise #2 Top-Paid CEOsThe data shown in the table below are the total compensation (inmillions of dollars) for the 50 top-paid CEOs for a recentyear.Minitab Inst...

Question

Exercise #2 Top-Paid CEOsThe data shown in the table below are the total compensation (inmillions of dollars) for the 50 top-paid CEOs for a recentyear.Minitab Instructions:Enter the data into a column of MINITAB. Name the columnCEOs.Column 1 Data ValuesColumn 2 Data ValuesColumn 3 Data ValuesColumn 4 Data ValuesColumn 5 Data Values17.324.347.738.517.023.716.525.117.418.037.619.721.428.621.619.320.016.925.219.825.017.220.420.129.119.125.223.225.924.041.724.016.826.831.416.917.224.135.219.122.91

Exercise #2 Top-Paid CEOs The data shown in the table below are the total compensation (in millions of dollars) for the 50 top-paid CEOs for a recent year. Minitab Instructions: Enter the data into a column of MINITAB. Name the column CEOs. Column 1 Data Values Column 2 Data Values Column 3 Data Values Column 4 Data Values Column 5 Data Values 17.3 24.3 47.7 38.5 17.0 23.7 16.5 25.1 17.4 18.0 37.6 19.7 21.4 28.6 21.6 19.3 20.0 16.9 25.2 19.8 25.0 17.2 20.4 20.1 29.1 19.1 25.2 23.2 25.9 24.0 41.7 24.0 16.8 26.8 31.4 16.9 17.2 24.1 35.2 19.1 22.9 18.2 24.4 35.4 25.5 17.5 18.0 36.8 31.7 31.7 Answer the following questions using your Minitab summary: What is the mean? Answer: What is the standard deviation? Answer: What is the variance? Answer: What is N? Answer: What is the minimum? Answer: What is the maximum? Answer: What is the median? Answer:



Answers

Decide whether applying one-standard-deviation $x^{2}$-procedures appears reasonable. Explain your answers. In the article "The $\$ 350,000$ Club" (The Business Joumal, Vol. 24, Issue 14, pp. 80-82), J. Trunelle et al. examined Arizona public-company executives with salaries and bonuses totaling over $\$ 350,000 .$ The following data provide the salaries, to the nearest thousand dollars, of a random sample of 20 such executives. $$\begin{array}{lllll} \hline 516 & 574 & 560 & 623 & 600 \\ 770 & 680 & 672 & 745 & 450 \\ 450 & 545 & 630 & 650 & 461 \\ 836 & 404 & 428 & 620 & 604 \\ \hline \end{array}$$

Broken on 36 since the standard deviation off the city's is signal over squirrels of end and the smaller cities will have a greater variation. Therefore, it would make sense that and the small cities would both be the most safe and least and let's see.

So in this question, we are given sample salaries in thousands of dollars for employees, and in part, they were asked to find the sample mean and the sample standard deviation. So for the sample mean we basically take the some effects divided by the number of elements. Sample standard deviation. We take the summer off squares, we divide by and minus one and take the square root. So if we take all of the's values here, our sample mean yes, 41.5385 So Mm hmm. 0.5 green 85 the unit ISS thousands off dollars and our sample standard deviation. So we basically take each value. We subtract the mean from it, we square it and then we summit and then we divide by the number of elements. So the sample standard deviation is 5.3169 same unit off thousands off dollars. So this is our answer to part. So now, in part B were asked to, we're told that each employee receives a 5% race and were asked to find the sample mean and standard deviation. So with the 5% race for us to find the sample mean and standard TV should. So for 5% rates were basically going to take each of these values, and we're going to multiply that by 1.5 and then we're going to use our sample mean and standard deviation formulas and calculate the values. So when we multiply everything by 1.5, for example, 42 come 44.1 and just another example 45 will become 47.25 So we do that for all the values and here, our sample mean is going to be 43.615 thousands off dollars and our sample standard deviation using this formula is going to be 5.583 thousands of dollars. So that's our answer to part. Think now in Part C were asked to take the salaries and divided by 12 to get the monthly salary, whereas to find the mean and standard deviation for the salaries. So, for example, if we take 42 and we divide by 12, we get 3.5. So we're going to do the same thing for all our values here, and after doing that, we will calculate again the same using same formula. The sample mean and simple center, activations or sample. Mean here is 3.46 15 So 3.4615 thousands off dollars and our sample standard deviation is point 0.44 mhm in the unit ears again, thousands off dollars. So we have our answer for part C Now in party, what we're asked is what we can conclude from the results off A, B and C. So basically what we can conclude from our results is when there was a 5% raise in salaries, there was also actually a 5% raise in the mean and standard deviation. So 5% brace in the data for salaries also caused it 5% increase in the sample mean and the sample standard deviation and mean the same thing when the salaries were divided by 12. Then the sample standard deviation and the mean we're also divided by 12, which we can actually see here. So and we actually take our original samples mean and center division, and we divide by 12. We actually get thes values, and so that is our conclusion for parties. Whatever change in the day. If all of the data changes consistently in a particular manner, so does the sample mean and standard division. They basically changed by that same consistent amount.

So in this question, were given sample annual salaries in thousands of dollars and in part they were asked to find the sample mean and the sample standard deviation, which is given by this for Mila over here. So to find the sample mean and standard deviation, we basically use thes formulas. They substitute all the values of X, and our sample means is equal to 41 point 6923 thousands of dollars. Our sample standard deviation is 5.99 rounded to two decimal places. And so this is our answer to part in now for part B, we're told that each employing takes $1000 race. So you get $1000 races. Since all of these air in thousands of dollars, we're gonna add one. So the soldiers on 41 36 all the way up to 48 and then we're going to calculate our sample mean and standard deviation, for example, mean in this case is 42.6923 and our sample standard deviation actually stays the same at five point 99 Now, in part C, we're told that each employee takes a pay cut off $2000. So all of our values, you are going to decrease by two. So this is going to become 37 38 so on. And in that case, our sample mean is basically going to decrease by two from the initial. So we're gonna have 39.69 on our sample. Standard deviation remains the same at 5.99 So we have our answers to part A B and sink. Now let's move on to part Dean. So in part D were asked what we can conclude from the results of A, B and C So basically what? We can conclude this, that when we had or subtract a constant value from the data when we add or subtract a constant valley from our data, our mean well increase or decrease. Why the same amount So say we add or subtract an amount key from the data. Are minnow increase or decrease by the same amount? What the standard deviation remains the seen? Because the variation the data is constant. It just increases or decreases all the data just cool up or down by the same amount. So the standard deviation remains the same, but to me increases or decreases by the value that we had or subtract the data.

For this question. We are going to be using formulas five and six from the textbook and we're going to be using this table to find our answer. Since we're using these formulas as stated in the question. So we're going to start off by solving for our mid points are mid points for each class is the lower class limit, and you add that to the upper class limit and divide by two. So for the first class it is 10 0.55 Then I'm gonna go ahead and do this for the rest of the mid points 14.55 18.55 2.55 and 26.55 Yeah, our frequency is just a number of entries in each class, 15, 20 57 and three for this, we're just going to multiply the values in this column. In this column we get 158.25 291 92.75 157.85 and 79.65 Now, as you may notice, we need our sample mean for this column that we do not have yet, that didn't you have that. So we're going to solve for it. And so what we need is we need the sum of all of our midpoint times are frequencies for each class. So it is the sum of this column which is 779.5. That is divided by n. Which is the total number of entries in this data set. Also known as the sum of our frequencies that is 50 In doing that, we get 15.59 and now we're gonna go across as a row and we're gonna start are taking our midpoint and subtracting our sample. Mean that we just found so for this one it's negative. 5.4 We don't have to worry about we have a negative because we're going to square that. That comes up to 25.4016 And then we multiply that by its respective frequency of 15 and we get 381.0 to 4. I'll fill in the rest. Yeah, just doing the same thing for each class, Taking our midpoint and subtracting are mean, squaring it and multiplying it by our frequency for the last one, applied by the frequency. Okay, now we can solve for our standard deviation, which, as you can see, uses this column from our table, we're going to take the sun over all of our classes for the sum of this column. So our standard deviation, it's going to be a square root, uh 1145.92 Again, this is the sum of this column. We're dividing by n minus one. We found our end to be 50 when we found our mean, and so it is 49. And during this we get 4.8359 Now to find our sample variance, percentage variation. Sorry, what we do is we take s squared, so we take 4.8359 squared, 23.3861


Similar Solved Questions

5 answers
Problem 42 If $ is a nonempty proper subset of A == Xs is surjec- tive. Why?
Problem 42 If $ is a nonempty proper subset of A == Xs is surjec- tive. Why?...
5 answers
38) Find a power series representation for the function f(x xln(3 centered at X 2 and determine the interval of convergence: (Again I reserve the right to use a different function: Hint: there is a "shortcut" that will seriously reduce the amount of time you spend on this problem: In fact if you try to do this problem the "long" way it could take up to an hour to complete)
38) Find a power series representation for the function f(x xln(3 centered at X 2 and determine the interval of convergence: (Again I reserve the right to use a different function: Hint: there is a "shortcut" that will seriously reduce the amount of time you spend on this problem: In fact ...
5 answers
A 1.5 Kg object oscillates with simple harmonic motion of a spring of force constant K = 500 N/m maximum velocity is 70 cm/s_ What is the total energy? What is the amplitude of the oscillation?
A 1.5 Kg object oscillates with simple harmonic motion of a spring of force constant K = 500 N/m maximum velocity is 70 cm/s_ What is the total energy? What is the amplitude of the oscillation?...
5 answers
8A[Iz ] / V0.2 M V0.2 M Trial At [V Jo At log([Iz pappe IM logp" (NHaFzszoal[sao:*1o] log[S2O81o (M) Jo (M) (siw) (V / [ (mL) (mL) 365 0.000064 4.19 0.077 -1.11 0.077 1.112 SZL 0.000032 4.500.077-1.1112.50.038-1.423 955 0.000024 4.620.077-1.116.250.02-1.7070s 0.000033 81'112.50.0381.410.0771.11
8 A[Iz ] / V0.2 M V0.2 M Trial At [V Jo At log([Iz pappe IM logp" (NHaFzszoal[sao:*1o] log[S2O81o (M) Jo (M) (siw) (V / [ (mL) (mL) 365 0.000064 4.19 0.077 -1.11 0.077 1.11 2 SZL 0.000032 4.50 0.077 -1.11 12.5 0.038 -1.42 3 955 0.000024 4.62 0.077 -1.11 6.25 0.02 -1.70 70s 0.000033 81'1 12...
5 answers
Using the equationMoles of H" moles of Na2(moles of Ca2+ and Mg?r) Calculate the number of moles of Na in 25.00mnL sample_Calculate the moles of Na Ca"- and Mg"` the 250.mL solution Moles NaMoles Ca?Moles Mg" -Calculate the molarity of Na " Ca - and Mg' i the 250_L solutionUsing the dilution factor; calculate sawple:moLuityCi' rd Ms=ongual
Using the equation Moles of H" moles of Na 2(moles of Ca2+ and Mg?r) Calculate the number of moles of Na in 25.00mnL sample_ Calculate the moles of Na Ca"- and Mg"` the 250.mL solution Moles Na Moles Ca? Moles Mg" - Calculate the molarity of Na " Ca - and Mg' i the 250_...
5 answers
Find an equation of (he Jine tangent to (he graph of ((x)3) (4x - 3) at the point (1,7)The equation of the Iine tangent (0 (he graph of ((x) = (Type an equalion Using and Y a8 Ihe variablos+3) (4x = 3) at Ihe point (1,7) Is
Find an equation of (he Jine tangent to (he graph of ((x) 3) (4x - 3) at the point (1,7) The equation of the Iine tangent (0 (he graph of ((x) = (Type an equalion Using and Y a8 Ihe variablos +3) (4x = 3) at Ihe point (1,7) Is...
5 answers
The plh term of (he soquenco (an}n+n 014 n_4n?+1QUESTION 2Determine the convergence Or dlvergence of the Gwen series; to Ill in the blanks2(#)" Ihe value of Ir] Is(geometric/p-serles)50 Iha sefiesconvergenudivergen?} andthe sum of the series i5geometric series -series less than] more than equal equal to 1.5 equal to 2.857 equal t0 convergent dlvergent InfinityQUESTION 3
The plh term of (he soquenco (an} n+n 014 n_4n?+1 QUESTION 2 Determine the convergence Or dlvergence of the Gwen series; to Ill in the blanks 2(#)" Ihe value of Ir] Is (geometric/p-serles) 50 Iha sefies convergenudivergen?} and the sum of the series i5 geometric series -series less than] more t...
1 answers
At which term does the sequence $\{5.4,14.5,23.6, \ldots\}$ exceed $151 ?$
At which term does the sequence $\{5.4,14.5,23.6, \ldots\}$ exceed $151 ?$...
5 answers
3 tion 5 the IapJo of the 2") 1)(5r3 corresponding 1)=0 DE to the characteristic equationMoving another question save this responseMacB
3 tion 5 the IapJo of the 2") 1)(5r3 corresponding 1)=0 DE to the characteristic equation Moving another question save this response MacB...
5 answers
This is the same question as in Question 2,but now we are the Census Bureau: we are going to randomly sample 95,000 American households; measure each household's income, and calculate the sample averageThe density of American income looks like:8 0 3 L 8 87152535 50100150 Awalues200300IThe probability density ot Xbar looks appreximatelvlike what shape:
This is the same question as in Question 2,but now we are the Census Bureau: we are going to randomly sample 95,000 American households; measure each household's income, and calculate the sample average The density of American income looks like: 8 0 3 L 8 8 7152535 50 100 150 Awalues 200 300 IT...
1 answers
Solve each equation. Write all proposed solutions. Cross out those that are extraneous. $$ \sqrt[3]{x+8}=-2 $$
Solve each equation. Write all proposed solutions. Cross out those that are extraneous. $$ \sqrt[3]{x+8}=-2 $$...
5 answers
A random variable X has cdf:for x < ~1Fx(x) = 1 1 _ ~X e 3for x 2 -1Find P[X = ~1]Select one:0.750.0940.0046
A random variable X has cdf: for x < ~1 Fx(x) = 1 1 _ ~X e 3 for x 2 -1 Find P[X = ~1] Select one: 0.75 0.094 0.0046...
5 answers
QUEstionThe third and eighth term ofan Arithmetic progression are 470 and 380 rcspectivcly: Find the first term and the common difference. Find the first five terms of the Geometric progression whose first term is 2 and fourth terms is 54. Also find the sum of these five ters_Attach FileBrowscComnntorsubmit. Click Save Al Ansers saveallansers . Click Save and Submit t0 save and96F Sunny"
QUEstion The third and eighth term ofan Arithmetic progression are 470 and 380 rcspectivcly: Find the first term and the common difference. Find the first five terms of the Geometric progression whose first term is 2 and fourth terms is 54. Also find the sum of these five ters_ Attach File Browsc Co...
5 answers
4. Write a how-many-groups word problem for { ? and solve your problem with the aid of a math drawing -# tnble; Or & double nutber tc- Explain your reasoning:
4. Write a how-many-groups word problem for { ? and solve your problem with the aid of a math drawing -# tnble; Or & double nutber tc- Explain your reasoning:...
5 answers
A random sample of 81 students at Broward College is selectedto estimate the mean age of all students attending Broward College.The mean age of the sampled students is 22 years. The variance ofstudents’ ages, found in a previous study, is 49. Usethe sample data to construct a 95% confidence interval estimate ofthe population mean age of students attending Broward College.(a)13.044 < m <30.956 (b)20.721 < m < 23.279(c) 21.350 < m <22.650 (d)2
A random sample of 81 students at Broward College is selected to estimate the mean age of all students attending Broward College. The mean age of the sampled students is 22 years. The variance of students’ ages, found in a previous study, is 49. Use the sample data to construct a 95% confide...
5 answers
Solve the following differential equation2ry _ 4 + (4y? _ 2+1)y' =0Note You should express the solution implicitly, equating the polynomial expression to the arbitrary constant (do not use capita
Solve the following differential equation 2ry _ 4 + (4y? _ 2+1)y' =0 Note You should express the solution implicitly, equating the polynomial expression to the arbitrary constant (do not use capita...

-- 0.022188--