n a recent quiz, the class mean was 69 with a standard deviation of 4.5. Calculate the z-score (to 4 decimal places) for a person who received score of 67.
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On a recent quiz, the class mean was 69 with a standard deviation of 4.5. Calculate the z-score (to 4 decimal places) for a person who received score of 67.
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- The mean height of women in a country (ages 20−29) is 63.9 inches. A random sample of 60 women in this age group is selected. What is the probability that the mean height for the sample is greater than 65 inches? Assume σ=2.84. The probability that the mean height for the sample is greater than 65 inches is nothing.In the 1970s, one million college-bound students were surveyed and asked to compare themselves to their peers. Some of the key findings of the survey were as follows: a. 70% of the students rated themselves as above average in leadership ability, while only 2% rated themselves as below average in this regard. b. With respect to athletic skills, 60% of the students rated their skills as above the median and only 6% of students rated themselves as below the median. c. 60% of the students rated themselves in the top 10% in terms of their ability to get along with others, while 25% of the students felt that they were in the top 1% in terms of this interpersonal skill. Required: What type of cognitive bias reveals itself in the data mentioned above? How might this cognitive bias adversely influence a manager’s planning, controlling, and decision-making activities? What steps could managers take to reduce the possibility that this cognitive bias would adversely influence their actions?The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011. Assume that the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. What is the sampling distribution of for a random sample of 50 male college graduates? What is the sampling distribution of for a random sample of 50 female college graduates? In which of the preceding two cases, part (a) or part (b), is the standard error of smaller? Why?
- A pollster randomly selected four of 10 available people. Required: How many different groups of 4 are possible? What is the probability that a person is a member of a group? Note: Round your answer to 3 decimal places.In the 1970s, one million college-bound students were surveyed and asked to compare themselves to their peers. Some of the key findings of the survey were as follows: 70% of the students rated themselves as above average in leadership ability, while only 2% rated themselves as below average in this regard. With respect to athletic skills, 60% of the students rated their skills as above the median and only 6% of students rated themselves as below the median. . 60% of the students rated themselves in the top 10% in terms of their ability to get along with others, while 25% of the students felt that they were in the top 1% in terms of this interpersonal skill. Required: What type of cognitive bias reveals itself in the data mentioned above? How might this cognitive bias adversely influence a manager’s planning, controlling, and decision-making activities? What steps could managers do?The following data, taken from 8 towns in Alberta, are the percentage of residents who are university graduates and the median household incomes (in $ 1000's) for all households in each town. Graduates (%) Median Income ($ 1000) 61.7 47.6 50.9 34.1 57.1 31.5 56.4 41.3 42.8 34.5 42.1 28.1 33.2 23.1 19.2 20.4 (a) State the slope term and the Y -intercept term of the least squares regression line which attempts to predict the median income of a town in Alberta based on its linear relationship with the percentage of residents who are university graduates.(b) Find the correlation coefficient(c) As the percenage of university graduates increases by 10%, the median income will change (in $ 1000s) by (make sure you include the positive or negative sign) (d) What percentage of the variation in the variable Median Income is not explained by its linear relationship to the variable Percentage of University Graduates? Use at least one place after the decimal.(e) Using your…
- For the year 2010, 33% of taxpayers with adjusted gross incomes between $30,000 and $60,000 itemized deductions on their federal income tax return. The mean amount of deductions for this population of taxpayers was $16,642. Assume that the standard deviation is σ = $2,280. If required, round your answer to two decimal places. (a) What are the sampling distributions of x for itemized deductions for this population of taxpayers for each of the following sample sizes: 30, 50, 100, and 400? E(x) = $ n σ(x) 30 $ 50 $ 100 $ 400 $ (b) What is the advantage of a larger sample size when attempting to estimate the population mean? A larger sample - Select your answer -increasesdoes not changereducesItem 6 the standard error and results in a - Select your answer -moreequallylessItem 7 precise estimate of the population mean.In a recent report, the top five syndicated television programs were The Big Bang Theory (BBT), Judge Judy (JJ), Wheel of Fortune (WoF), Jeopardy (Jep), and Two and a Half Men (THM). The preferred shows for a sample of 50 viewers are shown in the following table: Are these data categorical or quantitative? Provide frequency and percent frequency distributions. On the basis of the sample, which television show has the largest viewing audience? Which one has the second largest?In this chapter we showed how a simple random sample of 30 EAI employees can be used to develop point estimates of the population mean annual salary, the population standard deviation for annual salary, and the population proportion having completed the management training program. a. Use Excel to select a simple random sample of 50 EAI employees. b. Develop a point estimate of the mean annual salary. c. Develop a point estimate of the population standard deviation for annual salary. d. Develop a point estimate of the population proportion having completed the management training program.