Homework 1

# Homework 1 - Brett Rojas OM 210 301 Homework#1 Section 2.1...

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Brett Rojas September 16, 2010 OM 210 – 301 Homework #1 Section 2.1, Problem 9 a) CEO Obtainment Frequency Inherited 8 Built 14 Hired 4 Total: 26 b) CEO Obtainment Relative Frequency Inherited 30.8% Built 53.8% Hired 15.4% Total: 100% c) d) 30.8% of CEOs of family-owned business because the CEO because they inherited the business. 1) What is the population being sampled? a. The population being sampled is the CEOs of family owned businesses. 2) What type and scale is the data? a. The data is qualitative and nominal 3) What is the most typical class for the sample? a. Built 4) What is the least typical class for the sample? a. Hired 5) How typical are these classes for the sample? a. CEOs that built the company accounted for 53.8% of those sampled, while CEOs that were hired accounted for 15.4%. 6) What is the most typical class for the population? a. Built 7) What is the least typical class for the population? a. Hired

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Brett Rojas September 16, 2010 OM 210 – 301 Homework #1 8) How typical are these classes for the population? a. CEOs that built the company accounted for 53.8% of those sampled, while CEOs that were hired accounted for 15.4%.
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