bartleby

Concept explainers

bartleby

Videos

Textbook Question
Chapter 1, Problem 1.27ACI

The economic return to earning an MBA. What are the economic rewards (e.g., higher salary) to obtaining an MBA degree? This was the question of interest in an article published in the International Economic Review (August 2008). The researchers made inferences based on wage data collected for a sample of 3,244 individuals who sat for the Graduate Management Admissions Test (GMAT). (The GMAT exam is required for entrance into most MBA programs.) The following sampling scheme was employed. All those who took the GMAT exam in any of four selected time periods were mailed a questionnaire. Those who responded to the questionnaire were then sent three follow-up surveys (one survey every 3 months). The final sample of 3,244 represents only those individuals who responded to all four surveys. (For example, about 5,600 took the GMAT in one time period; of these, only about 800 responded to all four surveys.)

  1. a. For this study, describe the population of interest.
  2. b. What method was used to collect the sample data?
  3. c. Do you think the final sample is representative of the population? Why or why not? Comment on potential biases in the sample.
Blurred answer

Chapter 1 Solutions

Statistics For Business And Economics, Student Value Edition Plus Mystatlab With Pearson Etext -- Access Card Package (13th Edition)

Ch. 1 - Explain the difference between a population and a...Ch. 1 - Define statistical thinking.Ch. 1 - Suppose youre given a data set that classifies...Ch. 1 - Suppose that a population contains 200,000...Ch. 1 - The Random Numbers applet generates a list of n...Ch. 1 - The Random Numbers applet can be used to select a...Ch. 1 - Applying the ConceptsBasic 1.15 Performance-based...Ch. 1 - Jamming attacks on wireless networks. Terrorists...Ch. 1 - Disaggregation of annually reported accounting...Ch. 1 - College application data. Colleges and...Ch. 1 - Opinion polls. Pollsters regularly conduct opinion...Ch. 1 - Cybersecurity survey. The information systems...Ch. 1 - Treasury deficit prior to the Civil War. In Civil...Ch. 1 - The lucky store effect in lottery ticket sales. In...Ch. 1 - Consumer recycling behavior. Under what conditions...Ch. 1 - Who is better at multi-tasking? In business,...Ch. 1 - Zillow.com estimates of home values. Zillow.com is...Ch. 1 - Drafting NFL quarterbacks. The National Football...Ch. 1 - The economic return to earning an MBA. What are...Ch. 1 - Corporate sustainability and firm characteristics....Ch. 1 - Inspection of highway bridges. All highway bridges...Ch. 1 - Structurally deficient highway bridges. Refer to...Ch. 1 - Monitoring product quality. The Wallace Company of...Ch. 1 - Guilt in decision making. The effect of guilt...Ch. 1 - Accounting and Machiavellianism. Behavioral...Ch. 1 - Can money spent on gifts buy love? Is the gift you...Ch. 1 - Random-digit dialing. To ascertain the...Ch. 1 - Current population survey. The employment status...Ch. 1 - Monitoring the production of soft-drink cans. The...Ch. 1 - Sampling TV markets for a court case. A recent...Ch. 1 - Critical Thinking Challenge 1.40 20/20 survey...
Knowledge Booster
Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
  • College Algebra
    Algebra
    ISBN:9781938168383
    Author:Jay Abramson
    Publisher:OpenStax
    Holt Mcdougal Larson Pre-algebra: Student Edition...
    Algebra
    ISBN:9780547587776
    Author:HOLT MCDOUGAL
    Publisher:HOLT MCDOUGAL
    College Algebra (MindTap Course List)
    Algebra
    ISBN:9781305652231
    Author:R. David Gustafson, Jeff Hughes
    Publisher:Cengage Learning
  • College Algebra
    Algebra
    ISBN:9781938168383
    Author:Jay Abramson
    Publisher:OpenStax
    Holt Mcdougal Larson Pre-algebra: Student Edition...
    Algebra
    ISBN:9780547587776
    Author:HOLT MCDOUGAL
    Publisher:HOLT MCDOUGAL
    College Algebra (MindTap Course List)
    Algebra
    ISBN:9781305652231
    Author:R. David Gustafson, Jeff Hughes
    Publisher:Cengage Learning
    Sampling Methods and Bias with Surveys: Crash Course Statistics #10; Author: CrashCourse;https://www.youtube.com/watch?v=Rf-fIpB4D50;License: Standard YouTube License, CC-BY
    Statistics: Sampling Methods; Author: Mathispower4u;https://www.youtube.com/watch?v=s6ApdTvgvOs;License: Standard YouTube License, CC-BY