Are mean salaries in given example statistics or parameters

Reference no: EM131416417

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: EM131416417

Questions Cloud

Concept of nesting functions in excel : In your own words, explain the concept of nesting functions in Excel? Why is it useful? Give at least one example.

Information technologies that could be used in computer : Describe information technologies that could be used in computer crimes by relating a case from an APA cited peer reviewed source.

What is the population parameter of interest in the quote : What is the population parameter of interest in the quote?- The phrase "an estimated 15 to 30 percent" indicates that scientists don't know precisely what percentage of the population has the allele. Explain why they don't know.

How concerned are you about privacy in todays market place : How concerned are you about privacy and security in today's market place? Are privacy concerns dependent on your age/generation? Will these concerns be more or less prevalent in 5 years?

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.

User Account

All Pages