Are mean salaries in given example statistics or parameters

Assignment Help Basic Statistics

Reference no: EM131416413

Refer to given Exercise. Suppose that the 100 men and 100 women in the sample were all of the company's employees. Now answer questions a and b, repeated here:

a. Are the mean salaries in this example statistics or parameters? Explain.

b. Based on these means, can the shareholders determine that the mean salary for males in the company is higher than the mean salary for females? Explain.

Exercise
Some stockholders want to know whether the mean salary for male employees in a large company is higher than the mean salary for female employees. The company allows them access to salary information for a random sample of 100 male and 100 female employees, and the mean salaries are $51,000 for the males and $49,500 for the females.

a. Are the mean salaries in this example statistics or parameters? Explain.

b. Based on these means, can the shareholders determine that the mean salary for males in the company is higher than the mean salary for females? Explain.

c. If they selected new random samples of 100 males and 100 females, would the average salaries of those samples be $51,000 and $49,500? Explain.

Reference no: EM131416413

Questions Cloud

Are mean salaries in given example statistics or parameters : If they selected new random samples of 100 males and 100 females, would the average salaries of those samples be $51,000 and $49,500? Explain.

What is the exact form for relative ppp : Recalculate the NPV for the Kihlstrom drill bit project (discussed in Section 20.5 ) using the exact forms for the UIP and the international Fisher effect. Verify that you get precisely the same answer either way.

What do you hope to gain from your review : Background (Why is this topic of interest? What do you know about it already? What do you hope to gain from your review? What is its history or relevance to the field of psychology?)Definitions (What are key terms you are running across in your r..

Review the article mary barras unexpected opportunity : Review the article "Mary Barra's (unexpected) Opportunity" which can be found in the weekly reading. This article pertains to the Chevrolet Cobalt recall.

Are mean salaries in given example statistics or parameters : Based on these means, can the shareholders determine that the mean salary for males in the company is higher than the mean salary for females? Explain.

Privacy concerns or intellectual property concerns : Identify the social and ethical issues associated with that database. Are there unique privacy concerns or intellectual property concerns associated with the database? Recommend a solution to address these concerns.

Why is the price of a big mac not the same in every country : Using the most recent index, which country has the most expensive Big Macs? Which country has the cheapest Big Macs? Why is the price of a Big Mac not the same in every country?

Considerations concerning the data : Discuss the use of a VLOOKUP (or HLOOKUP) and compare it to nesting IF statements. What are the considerations concerning the data? When is one preferred over the other? What is the purpose of the range lookup parameter? VLOOKUP (lookup_value, tab..

What opportunities did gannett seize in launching usa today : What opportunities in the marketing environment did Gannett seize in launching USA Today? How did the company learn about and respond to these opportunities? Answer the same questions for USAToday.com

User Account

All Pages