Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

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Answer 1

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

b.

To determine

Explain whether this percentage is appropriate for these data.

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

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(c) Because logistic regression predicts probabilities of outcomes, observations used to build a logistic regression model need not be independent. A. false: all observations must be independent B. true C. false: only observations with the same outcome need to be independent I ANSWERED: A. false: all observations must be independent. (This was marked wrong but I have no idea why. Isn't this a basic assumption of logistic regression)

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Spam filters are built on principles similar to those used in logistic regression. We fit a probability that each message is spam or not spam. We have several variables for each email. Here are a few: to_multiple=1 if there are multiple recipients, winner=1 if the word 'winner' appears in the subject line, format=1 if the email is poorly formatted, re_subj=1 if "re" appears in the subject line. A logistic model was fit to a dataset with the following output: Estimate SE Z Pr(>|Z|) (Intercept) -0.8161 0.086 -9.4895 0 to_multiple -2.5651 0.3052 -8.4047 0 winner 1.5801 0.3156 5.0067 0 format -0.1528 0.1136 -1.3451 0.1786 re_subj -2.8401 0.363 -7.824 0 (a) Write down the model using the coefficients from the model fit.log_odds(spam) = -0.8161 + -2.5651 + to_multiple + 1.5801 winner + -0.1528 format + -2.8401 re_subj(b) Suppose we have an observation where to_multiple=0, winner=1, format=0, and re_subj=0. What is the predicted probability that this message is spam?…

Answer 2

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

b.

To determine

Explain whether this percentage is appropriate for these data.

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

Expert Solution & Answer

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Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

b.

To determine

Explain whether this percentage is appropriate for these data.

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

Expert Solution & Answer

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Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

b.

To determine

Explain whether this percentage is appropriate for these data.

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

Expert Solution & Answer

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Answer 5

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

b.

To determine

Explain whether this percentage is appropriate for these data.

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

Answer 6

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

Answer 7

Chapter 5, Problem 47E

a.

To determine

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

Answer 8

b.

To determine

Explain whether this percentage is appropriate for these data.

Answer 9

b.

To determine

Explain whether this percentage is appropriate for these data.

Answer 10

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

Answer 11

c.

To determine

Explain whether the 68-95-99.7 rule can be applied.

Answer 12

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

Answer 13

d.

To determine

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

Answer 14

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

Answer 15

e.

To determine

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

Answer 16

Expert Solution & Answer

Answer 17

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Answer 18

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Answer 19

Ch. 5.1 - Your statistics teacher has announced that the...Ch. 5.1 - A distribution of incomes shows a strongly right...Ch. 5.2 - Prob. 3JC Ch. 5.2 - Prob. 4JC Ch. 5.3 - As a group, the Dutch are among the tallest people...Ch. 5.3 - Prob. 6JC Ch. 5.3 - The mean of our original sample of 100 commute...Ch. 5.3 - Prob. 8JC Ch. 5 - Stats test The mean score on the Stats exam was 75...Ch. 5 - Mensa People with z-scores above 2.5 on an IQ test...

Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

Solution Summary: The author explains the 68-95-99.7 Rule of Normal distribution: 68% of values fall within one standard deviation of the mean, while 95% are found within two.

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Find the percentage of CEOs who are expected to earn more than 2 standard deviations above the mean compensation.

Explain whether this percentage is appropriate for these data.

Explain whether the 68-95-99.7 rule can be applied.

Explain whether the 68-95-99.7 Rule can be applied when the standard deviation of the mean is 1.

Explain whether the 68-95-99.7 Rule gives a good idea of the middle 95% of the distribution.

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