Determine information on yearly salaries

Assignment Help Basic Statistics

Reference no: EM13903602

A university plans on conducting a survey of its recent graduates to determine information on their yearly salaries. It randomly selected 200 recent graduates and sent them questionnaires dealing with their present jobs. Of these 200, however, only 86 were returned. Suppose that the average of the yearly salaries reported was $75,000.

(a) Would the university be correct in thinking that $75,000 was a good approximation to the average salary level of all of its graduates? Explain the reasoning behind your answer.

(b) If your answer to part (a) is no, can you think of any set of conditions relating to the group that returned questionnaires for which it would be a good approximation?

Reference no: EM13903602

Questions Cloud

What were the effects of the policies implemented : What were the effects of the policies implemented in reaction to the crisis?

Illuminate the differences among ethics, morality, and law : Discuss the morality of posting the 32-character encryption key for HD-DVDs on Digg.com; the morality of terminating the poster's account; and the morality of re- posting the encryption key.

What laws or treaties exist to combat the given issue : Find at least four research sources that will help you understand the issue. How large is this problem worldwide? What laws, treaties or international agreements exist to combat this issue

What is the equilibrium price and quantity in market? : What is the equilibrium price and quantity in market?

Determine information on yearly salaries : Would the university be correct in thinking that $75,000 was a good approximation to the average salary level of all of its graduates? Explain the reasoning behind your answer.

Calculate total revenue function : A profit maximization perfectly competitive firm face the following function total cost function. TC=10Q^2+50 and marginal revenue (MR)=10 based on the above information a) Calculate total revenue function

Determine proportion of people in your town who are smokers : To determine the proportion of people in your town who are smokers, it has been decided to poll people at one of the following local spots

Should children be prevented from accessing some web sites : Should children be prevented from accessing some Web sites? Who should be responsi- ble for the actions of children sur?ng the Web?

Goals and objectives of the medical care line : Competency 1 - Knowledge of clinical and administrative protocols required to meet the established goals and objectives of the Medical Care Line and the Michael E. DeBakey VA Medical Center (MEDVAMC)

User Account

All Pages