a) An investigator took a random sample of Chief Financial Officers (CFOS) of public listed firms in Singapore, recorded their annual salaries and found that the salary distribution was skewed to the right. She then proceeded to calculate three measures of location for this data, namely the mean, median and mode. The mean was found to be SGD (S) 230,000.35 with a standard deviation of SGD ($) 50,000.85 but the mode was not available. You are required to state and explain which you expect to have a larger value: their mean annual salary or their median annual salary. ii. Explain whether the mode will make a good measure of location of annual salaries and why it may not show up in standard computer output. i. Interpret the value for the standard deviation of annual salaries of CFOS in_ Singapore. 111. iv. Explain why the coefficient of variation can be a better measure of dispersion in certain circumstances.

a) An investigator took a random sample of Chief Financial Officers (CFOS) of public listed firms in Singapore, recorded their annual salaries and found that the salary distribution was skewed to the right. She then proceeded to calculate three measures of location for this data, namely the mean, median and mode. The mean was found to be SGD (S) 230,000.35 with a standard deviation of SGD ($) 50,000.85 but the mode was not available. You are required to state and explain which you expect to have a larger value: their mean annual salary or their median annual salary. ii. Explain whether the mode will make a good measure of location of annual salaries and why it may not show up in standard computer output. i. Interpret the value for the standard deviation of annual salaries of CFOS in_ Singapore. 111. iv. Explain why the coefficient of variation can be a better measure of dispersion in certain circumstances.

Name: a) An investigator took a random sample of Chief Financial Officers (
Uploaded: 2024-03-20T07:06:16.000Z
Channel: Bartleby
Description: a) An investigator took a random sample of Chief Financial Officers (CFOS) ofpublic listed firms in Singapore, recorded their annual salaries and found that thesalary distribution was skewed to the right. She then proceeded to calculate threemeasure

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: Suppose a small paint manufacturing company has a daily production that is normally distributed with…

A: Solution: It is given that a small paint manufacturing company has a daily production that is…

Q: What percentage of students from this school earn scores that satisfy the admission requirement?…

A: It is given thatMean, μ = 1490Standard deviation, σ = 296Z-Score, Z = ( X - μ )/σwhere, Z be the…

Q: Suppose a gas station monitors how many bags of ice they sell along with the maximum daily…

A: Given that, Let the temperature (X) be independent variable with mean x¯=83.8959oF with a standard…

Q: It seems these days that college graduates who are employed full-time work more than 40 -hour weeks.…

A: From the provided information, Population mean (µ) = 40 hours Sample size (n) = 19 Sample mean (x̅)…

Q: A successful basketball player has a height of 6 feet 8 inches, or 203 cm. Based on statistics from…

A: Consider X is a random variable defined as the height of a successful basketball player.The provided…

Q: An study was conducted to compare the difference in math scores between police foundations (group 1)…

A: Given : x¯1=68.6s1=3.7n1=30x¯2=69.4s2=4.0n2=32 We want to find 99% confidence interval for the…

Q: video game c

A: given, sample size(n) = 1500 sample mean (x̄) = 115 sample stadard deviation (s) = 11

Q: Students receive an A+ on a 60 point test if they score 55 points or more. The marks of a large…

A: Given: X~N(μ,σ)μ=50σ=5

Q: It seems these days that college graduates who are employed full-time work more than 40 -hour…

A: Given information- Population mean, μ = 40 Sample size, n = 19 Sample mean, x-bar = 44 Sample…

Q: Two different species of trees have heights that are approximately normal in distribution. Tree A…

A: The z-score of a random variable x is defined as follows: z = (x – µ)/σ. Here, µ and σ are the mean…

Q: The SAT scores (X) of the students in the U.S. in 2011 are normally distributed with a mean 1500 and…

A: The objective of this question is to find the percentage of students who scored below Darth Vader on…

Q: On a statistics examination the mean was 78 and the standard deviation was 10. (a) Determine the…

A: Step 1:Given :mean μ = 7standard deviation σ = 10 a) The standard score of the student whose grade…

Q: In a recent awards ceremony the age of the winner for the best actor award was 34 and the age of the…

Q: Over roughly the past 100 years, the mean monthly April precipitation in Williamstown,…

A: given data normal distributionμ = 3.6 inchesσ = 1.6 inchesfor x = 8.4 inchesZ =?

Q: The middle 75% of the data was highly competitive house prices in the 70s. Find those house prices.

A: It is given that Mean = 150000 Standard deviation = 25000

Q: Suppose that grades on a midterm and a final exam have a correlation coefficient of 0.5, and both…

A: The least square equation for the predicting grades of final exam on the basis of the grades of the…

Q: Alan, a highway safety inspector, is concerned about the potential for accidents caused by boulders…

A: Given data μ = 565σ = 100normal distribution P(493<x<681) = ?

Q: An instructor in a large lecture class found, at the end of the semester, that the total point…

A: The provided information is:

Q: seems these days that college graduates who are employed full-time work more than 40 -hour weeks.…

Q: fitness center is interested in finding a 95% CI for the mean number of days per week that Americans…

A: Given: Xˉ=3.2 s=2.6 n=248 Confidence level = 95% As the population standard deviation is not known,…

Q: It seems these days that college graduates who are employed full-time work more than 40-hour weeks.…

A: Given data is appropriate for testing of hypothesis to test t-test for single mean. because it is a…

Q: The accounts of 4,500 credit card customers out of a sample of 40,000 that were reviewed did not…

A: The sample size of review credit card customers: The number of unsatisfactory performers from the…

Q: It seems these days that college graduates who are employed full-time work more than 40-hour weeks.…

A: We have to test claim.

Q: Assume that an intelligence test scores are distributed normallt with a mean of 100 and a standard…

A: Standard normal distribution: The standard normal distribution is a special case of normal…

Q: It seems these days that college graduates who are employed full-time work more than 40-hour weeks.…

A: The independent variable is respondents. The dependent variable is the number of hours worked per…

Q: A student takes a test in his math course and scores 45 points and a test in his psychology…

A: Introduction:Consider X as a normally distributed random variable, with mean μ and standard…

Q: A study compared the weight loss of people on a low-fat diet versus people on a low-carb diet. In a…

A: Given: First sample: Sample size, n1 =100 Sample mean, x1=7.6 Sample standard deviation, s1 = 3.2…

Concept explainers

Inverse Normal Distribution

The method used for finding the corresponding z-critical value in a normal distribution using the known probability is said to be an inverse normal distribution. The inverse normal distribution is a continuous probability distribution with a family of two parameters.

Mean, Median, Mode

It is a descriptive summary of a data set. It can be defined by using some of the measures. The central tendencies do not provide information regarding individual data from the dataset. However, they give a summary of the data set. The central tendency or measure of central tendency is a central or typical value for a probability distribution.

Z-Scores

A z-score is a unit of measurement used in statistics to describe the position of a raw score in terms of its distance from the mean, measured with reference to standard deviation from the mean. Z-scores are useful in statistics because they allow comparison between two scores that belong to different normal distributions.

Topic Video

Question

a) An investigator took a random sample of Chief Financial Officers (CFOS) of
public listed firms in Singapore, recorded their annual salaries and found that the
salary distribution was skewed to the right. She then proceeded to calculate three
measures of location for this data, namely the mean, median and mode. The mean
was found to be SGD (S) 230,000.35 with a standard deviation of SGD ($)
50,000.85 but the mode was not available.
You are required to state and explain which you expect to have a larger value:
their mean annual salary or their median annual salary.
ii. Explain whether the mode will make a good measure of location of annual
salaries and why it may not show up in standard computer output.
i.
i11.
Interpret the value for the standard deviation of annual salaries of CFOS in
Singapore.
iv.
Explain why the coefficient of variation can be a better measure of dispersion in
certain circumstances.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Centre, Spread, and Shape of a Distribution$

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.

Similar questions

The results of a common standardized test used in psychology research is designed so that the population mean is 175 and the standard deviation is 10. A subject earns a score of 183. What is the z-score for this raw score?
While performing searches on the Internet to find accommodation, Jasmine realized that the cost of a housing unit seems to be related to the number of inhabitants of the municipality where the unit is located. She noted the following data. She represented the data in a scatter plot, where she drew a line of best fit passing through the mean point of the distribution. If Jasmine considers that a linear correlation exists between these two variables, what should be the mean monthly rent of a 4½-room unit in a municipality with a population of approximately 250 000? Justify your answer algebraically.
The distribution of the amount of money spent by first-time gamblers at a major casino in Las Vegas is approximately normal in shape with a mean of $600 and a standard deviation of $120. According to the standard deviation rule, almost 84% of gamblers spent more than what amount of money at this casino?
An analyst found that the average amount of money in bank accounts at his/her bank is $2,000 with a standard deviation of $150. What would be the variance?
For each day of last year, the number of vehicles passing through a certain intersection was recorded by a city engineer. One objective of this study was to determine the percentage of days that more than 425 vehicles used the intersection. If the mean data was 375 vehicles per day and the standard deviation was 25 vehicles: (c) Suppose the relative frequency distribution for the data is bell-shaped, then what percentage of days between 325 and 425 vehicles used the intersection ?
According to the Department of Education the mean number of hours college students spend studying each week follows a normal distribution with a mean of 20 hours and standard deviation of 9 hours. What ‘hours of study’ represents the 90th percentile? What ‘hours of study’ represents the 15th percentile?
A successful basketball player has a height of 6 feet 11 inches, or 211 cm. Based on statistics from a data set, his height converts to the z score of 5.17. How many standard deviations is his height above the mean?
In Professor Krugman’s economics course, the correlation between the students’ total scores prior to the final examination and their final‑examination scores is ?=0.5.r=0.5. The pre‑exam totals for all students in the course have mean 280280 and standard deviation 40.40. The final‑exam scores have mean 7575 and standard deviation 8.8. Professor Krugman has lost Julie’s ﬁnal exam but knows that her total before the exam was 300.300. He decides to predict her ﬁnal‑exam score from her pre‑exam total. (a) Which of the choices is the least‑squares regression line of ﬁnal‑exam scores on pre‑exam total scores in this course?
On an intelligence test, the mean number of raw items correct is 236 and the standard deviation is 39. What are the raw (actual) scores on the test for people with IQs of (a) 119, (b) 81, and (c)100? To do this problem, first figure the Z score for the particular IQ score; then use that Z score to find the raw score. Note that IQ scores have a mean of 100 and a standard deviation of 15. (a) What is the raw (actual) score on the test for people with an IQ of 119?
A sociologist found that in a sample of 45 retired men, the average number of jobs they had during theirlifetimes was 7.2. The population standard deviation is 2.3(a) Find the best point estimate of the mean.The best point estimate of the mean is
According to the Department of Education the mean number of hours college students spend studying each week follows a normal distribution with a mean of 28 hours and standard deviation of 6 hours. What ‘hours of study’ represents the 95th percentile? What ‘hours of study’ represents the 15th percentile?
What is the relationship between the standard deviation and variance?