Compute the population mean and standard deviation

Assignment Help Basic Statistics

Reference no: EM13983125

The highly respected financial magazine Forbes publishes data on CEO salaries each year. At the end of 2005, Forbes posted CEO compensation data to its Web site (www.forbes.com/2005/04/20/05ceoland. html). These data reflect the total compensation for CEOs for 496 of the nation's 500 largest companies and are listed in a file called CEO Compensation.

a. Treating the data in the file as the population of interest, compute the population mean and standard deviation for CEO compensation.

b. Use either Excel or Minitab to select a simple random sample of n = 100 executive compensation amounts. Compute the sample mean for this sample. Find the probability of getting a sample mean as extreme or more extreme than the one you got. (Hint: Use the finite population correction factor because the sample is large relative to the size of the population.)

Reference no: EM13983125

Questions Cloud

Proportion of items with a desired attribute : 1. Given a population where the proportion of items with a desired attribute is p = 0.25, if a sample of 400 is taken,

Determine the height of the image : A single concave spherical mirror is used to create an image of a 6.00-cm tall source. The source is located 23.0 cm to the left of the mirror's center of curvature. The magnitude of the radius of curvature for the mirror is 12.0 cm. What is the h..

What is the magnitude of the force on the charge : Positive charge with the magnitude of q = 8.0nC is placed in the center of the square. What is the magnitude of the force on the 8.0nC charge in the middle of the figure due to the four other charges?

Problem regarding the ceo compensation : The data file called CEO Compensation contains data for the CEOs of 496 of the nation's top 500 companies in 2005. These data are published by the Forbes organization and are available on its Web site (www. forbes.com/2005/04/20/05ceoland.html).

Compute the population mean and standard deviation : Treating the data in the file as the population of interest, compute the population mean and standard deviation for CEO compensation.

Find the current induced in the loop : A single loop of wire with an area of 0.0780m2 is in a uniform magnetic field that has an initial value of 3.80 T, is perpendicular to the plane of the loop, and is decreasing at a constant rate of 0.240T/s . If the loop has a resistance of 0.700? ..

Explain how these are used to form a cash conversion cycle : Define inventory conversion period, average collection period, and payables deferral period. Explain how these are used to form a cash conversion cycle.

Create a box and whisker plot : Create a box and whisker plot and use it and the sample average to determine if the population from which this sample was obtained could be normally distributed.

Is the blue pattern wider or narrower than the red one : Is the blue pattern wider or narrower than the red one? Why? How do the central maximum and the minima vary with slit width b? Explain.

User Account

All Pages