HW2_ sampling

# HW2_ sampling - MGMT 305 Homework 2 Due Date February16...

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MGMT 305: Homework 2 Due Date: February16, 2011 Quiz2- Sampling Distribution, Interval 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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## This note was uploaded on 03/03/2012 for the course MGMT 305 taught by Professor Priya during the Spring '08 term at Purdue.

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HW2_ sampling - MGMT 305 Homework 2 Due Date February16...

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