Confidence interval for the mean increase in pay

Assignment Help Basic Statistics

Reference no: EM13105344

A study of the pay of corporate CEOs (chief executive officers) examined the cash compensation, adjusted for inflation, of the CEOs of 104 corporations over the period 1977 to 1988. Among the data are the average annual pay increases for each of the 104 CEOs. The mean percent increase in pay was 6.9%. The data showed great variation, with a standard deviation of 17.4%. The distribution was strongly skewed to the right.

1) Despite the skewness of the distribution, there were no extreme outliers. Explain why we can use t procedures for these data.

2) What are the degrees of freedom?

3) Give a 99% confidence interval for the mean increase in pay for all corporate CEOs.

Reference no: EM13105344

Questions Cloud

Explain how would you define emotional intelligence : Explain how would you define emotional intelligence in your own words? Explain & substantiate your response. Provide relevant examples from a past or present employer for support.

Describe mcdonald hr strategy : Based on your experience as a customer, how would you describe McDonald's HR strategy? Does it align well with their business strategy?

Confidence interval of playbill magazine : Playbill magazine reported that the mean annual household income of it's readers is $219,155. Assume this estimate of the mean annual household is based on a sample of 91 house-holds and based on past studies,

Explain traits of teacher empathy-knowledge of the facts : What is a classroom condition which would need teacher to possess one or more of following traits: empathy, knowledge of the facts, reason, courage, or interpersonal skills?

Confidence interval for the mean increase in pay : Give a 99% confidence interval for the mean increase in pay for all corporate CEOs.

What would the new price and equilibrium : Find the supply function for the hospitals and Suppose the hospitals merge into one umbrella organization to improve their bargaining position. What would the new price and equilibrium be?

Explain what court will have jurisdiction over tanya’s suit : Explain what court will have jurisdiction over Tanya’s suit? Why? Is the Misperception statute constitutional? Deliberate your legal reasoning.

Explain how would you change the system : Can increased sales be linked directly and / or indirectly to the appraisal system? Explain how about some of the other performance effects? Explain how would you change the system?

Describe the basic control process : How can a manager determine if more control is necessary, or even possible? Identify and describe the various methods that managers can use to maintain control. Describe the basic control process.

User Account

All Pages