Mid06_solution

Mid06_solution - Solution Mid06 1.(a) i. The median salary...

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Solution Mid06 1.(a) i. The median salary for one job offer is $10000 and the middle 50% has salaries between $10000 (first quartile) – $12000 (third quartile) and there are at least 25% (seven) of them has salary 10000. The lowest salary is 8000. There are two mild outliers, one at 15000 and the other at 18000. Skew to the right. ii.The median salary for two job offers is $12000 and middle 50% has salary between $10000 (first quartile)- $13000 (third quartile). $10000 is also the minimum and thus there are five $10000 salaries ( 5 10 2 % 25 = × × ). There is one mild outlier at $20000. (b) Yes, by comparing the medians, inter-quartile ranges, and adjacent values for 1, 2 and three or more job offers, we see that in general the more job offers one receives the higher the salary. 2.(a) The uncertainty before an experiment causes the variation of outcomes after the experiment. Probability measures the uncertainty before the experiments and thus it can explain the variation after the experiment. (b)
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This note was uploaded on 09/18/2010 for the course BBA ISOM111 taught by Professor Hu during the Fall '08 term at HKUST.

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