HW 1 (Chap 2) Req Solutions

HW 1 (Chap 2) Req Solutions - Solutions for the Required...

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Solutions for the Required Problems for Homework #1 from Chapter 2 Required homework: Problems 9, 17, and 21 from Chapter 2, with additional questions. Problem 9. a/b. Reason for CEO Frequency Percent Frequency Built 14 54% Hired 4 15% Inherited 8 31% Total 26 100% c. Construct the bar graph 0 5 10 15 Built Hired Inherited Reason Frequency d. 31% or almost one-third of the respondents became the CEO of a family- owned business because they inherited the business. The majority of CEOs of family-owned business became a CEO (54%) because they built the business themselves. What is the population being sampled? All CEO’s of family-owned businesses. What type and scale is the data? Qualitative, nominal. What is the most typical class for the sample? Built. What is the least typical class for the sample? Hired. ASW 5e Chap 2 Req HW #1 1 © 2010 Harvey Singer
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How typical are these classes for the sample? Of the CEOs of family-owned businesses sampled, 54% built their business and 15% were hired. What is the most typical class for the population? Built What is the least typical class for the population? Hired. How typical are these classes for the population? Of all CEOs of family-owned businesses, about 54% built their business and about 15% were hired. What assumptions were made about this sample to make your generalizations? Assume that the sample is random.
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