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Unformatted text preview: BUAD310 Case 1 – Solution first draft Page 1 Fall 2007 BUAD 310 Case 1, Fall 2007 Total 100 points – Due 10/10/07 Part I a. Explain the Population, Sample, Parameter of interest and Statistic. Population: All the 800 CEOs Sample: The randomly selected 50 CEOs Parameter: The Average compensation of all the CEOs (also the average age) Statistics: The average compensation of the randomly selected CEOs (also the average age) b. What type of variables are Age and Compensation? They are quantitative variables and are continuous. (missed by many students). c. Who is the extreme outlier in population in terms of compensation? Why is the person extreme outlier? The extreme outlier is Disney chairman, Mr. Michael D Eisner, his compensation is huge $203,020,000 for that particular year. d. What are the population mean, the sample mean, the population standard deviation and sample standard deviation for age and compensation? ( MINITAB: Print the Quartiles, Moments, Histograms and Box plots for the population and sample.) Refer to printouts given below: Population (compensation) Sample Mean = μ = $ 2, 818,743 Mean = xbar = $2,193,278 St. dev = σ = $8,320,053 St. dev = s = $1,929,746 Population (Age) Sample Mean = μ = 56.325 years Mean= xbar = 56.720 years St. dev = σ = 6.915 years St dev= s= 5.33 years Below is Population information. BUAD310 Case 1 – Solution first draft Page 2 Fall 2007 180000000 150000000 120000000 90000000 60000000 30000000 Median Mean 3500000 3000000 2500000 2000000 1500000 1000000 AndersonDarling Normality Test Variance 6.92233E+ 13 Skewness 18.474 Kurtosis 428.531 N 790 Minimum 28816 ASquared 1st Quartile 787304 Median 1304470 3rd Quartile 2518628 Maximum 203020000 95% Confidence Interval for Mean 2237675 174.59 3399812 95% Confidence Interval for Median 1221009 1415026 95% Confidence Interval for StDev 7929049 8751923 PValue < 0.005 Mean 2818743 StDev 8320053 9 5 % Confidence I ntervals Summary for TotalComp 80 72 64 56 48 40 32 Median Mean 57.00 56.75 56.50 56.25 56.00 AndersonDarling Normality Test Variance 47.812 Skewness0.119322 Kurtosis 0.773121 N 800 Minimum 29.000 ASquared 1st Quartile 52.000 Median 57.000 3rd Quartile 61.000 Maximum 81.000 95% Confidence Interval for Mean 55.845 1.98 56.805 95% Confidence Interval for Median 56.000 57.000 95% Confidence Interval for StDev 6.592 7.271 PValue < 0.005 Mean 56.325 StDev 6.915 9 5 % Confidence I ntervals Summary for Age The information below is Sample Information BUAD310 Case 1 – Solution first draft Page 3 Fall 2007 10000000 8000000 6000000 4000000 2000000 Median Mean 2500000 2000000 1500000 1000000 AndersonDarling Normality Test Variance 3.72392E+ 12 Skewness 2.09025 Kurtosis 5.22183 N 50 Minimum 600000 ASquared 1st Quartile 875559 Median 1331525 3rd Quartile 3035413 Maximum 10149200 95% Confidence Interval for Mean 1644850 3.77 2741706 95% Confidence Interval for Median 1071566 2234655...
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This note was uploaded on 02/16/2009 for the course BUAD 310 taught by Professor Lv during the Fall '07 term at USC.
 Fall '07
 Lv
 Business, Interest

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