HW2_ sampling

HW2_ sampling - MGMT 305: Homework 2 Due Date: February4,...

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MGMT 305: Homework 2 Due Date: February4, 2010 Quiz2- Sampling Distribution Chapter—7 1. Business Week conducted a survey of graduates from 30 top MBA programs ( Business Week , September 22, 2003). On the basis of the survey, assume that the mean annual salary for male and female graduates 10 years after graduation is $168,000 and $117,000, respectively. Assume the standard deviation for the make graduates is $40,000, and for the female graduates it is $25,000. a. What is the probability that a simple random sample of 40 male graduates will provide a sample mean within $10,000 of the population mean, $168,000? b. What is the probability that a simple random sample of 40 female graduates will provide a sample mean within $10,000 of the population mean, $117,000? c. In which of the preceding two cases, part (a) or part (b), do we have a higher probability of obtaining a sample estimate within $10,000 of the population mean? Why? d.
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HW2_ sampling - MGMT 305: Homework 2 Due Date: February4,...

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