Reference no: EM132854606

What are the economic rewards (e.g., higher salaries) to obtaining an MBA degree? This was the question of interest in an article published in the International Economic Review (August 2008). The researchers made inferences based on wage data collected for a sample of 3,244 individual who sat for the Graduate Management Admissions Test (GMAT). The following sampling scheme was employed. All those who took the GMAT exam in any of four selected time periods (Jan. 1990, Sep.1991, Jan. 1993, and Jan.1997) were mailed a questionnaire. Those who responded to the questionnaire were then sent three follow-up surveys (one survey every 3 months) The final sample of 3,244 represents only those individuals who responded to all four surveys. (for example, about 5,600 took the GMAT in Jan.1990; of these, only 800 responded to all four surveys)

For this study, describe

a. The population of interest.

b. What method was used to collect the ample data?

c. Do you think the final sample is representative of the population? Why or why not? Comment of potential biases in the sample.