A newspaper article on salaries of college presidents, Ask an Expert

Statistics

A newspaper article on salaries of college presidents reported compensations for a sample of 11 college presidents in area schools during the year 2002-2003, as well as compensations for the 10 highest-paid leaders of public universities in the entire United States. (Leaders of private universities, not included in the latter data set, have been known to receive more than $1 million in yearly pay.) The data, recorded in thousands of dollars, have been summarized with software.

a. Find the salary of a college president whose z-score for that area was approximately +2.

b. The same college president was also included in the list of the top 10 salaries for the entire United States; find his z-score in reference to this group.

c. Discuss the drawbacks in using the mean for college presidents in a particular area as an estimate for the mean salary of all college presidents.

d. Explain why the mean salary of top college presidents is useless as an estimate for any larger group.

View complete question

Statistics and Probability, Statistics

Category:- Statistics and Probability
Reference No.:- M92644946

Have any Question?Write your Review or question?

Related Questions in Statistics and Probability

In a survey of 100 people 40 were casual drinkers

In a survey of 100 people, 40 were casual drinkers (event D ), and 60 did not drink (event D ' ). Of the ones who drank, 6 had minor headaches. Of the non-drinkers, 9 had minor headaches. Let D represent set of surv ...

If we believe the percent to be 75 how many police officers

If we believe the percent to be 75%, how many police officers must we survey to estimate the proportion of officers who graduated from a police academy if we want to ensure we can be 90% we are within 2% of the true prop ...

Can a business have too much money in cash meaning cash on

Can a business have too much money in Cash, meaning cash on hand as well as in checking and savings accounts? What if a business had 100 million dollars in these cash accounts but only needed half of that for what Keynes ...

A puck company wants to sponsor the players with the 10

A puck company wants to sponsor the players with the 10% quickest goals in hockey games. The times of first goals are normally distributed with a mean of 8.54 minutes and a standard deviation of 4.91 minutes. How fast wo ...

A test of the null A test of the null hypothesis H 0 : μ = μ 0 gives test statistic

A test of the null hypothesis H 0 : μ = μ 0 gives test statistic z = -0.58 (Round your answers to four decimal places.) a) What is the P -value if the alternative is H a : μ > μ 0 ? b) What is the P -value ...

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round intermediate calculations. Round your answer to 2 decimal places.)

There are 3 orange balls and 17 blue balls that are in a

There are 3 orange balls and 17 blue balls that are in a bag. A person reaches into the bag, without looking, and pulls one of the balls out of the bag. What is the probability that the ball is orange?

Given a trend line of y 174x 88 where the variable x is

Given a trend line of y = 174x + 88, where the variable x is the independent variable and the variable y is the dependent variable, what is the slope of this trend line?

You paid cash for 1300 worth of stock a year ago today the

You paid cash for $1,300 worth of stock a year ago. Today the portfolio is worth $1,888. a. What rate of return did you earn on the investment? b. Now suppose that you bought the same stock but bought it on margin. The ...

Suppose that for a given patient the true ef is 63 consider

Suppose that, for a given patient, the true EF is 63. Consider the population of EF values that can be estimated on that patient using option II above. That population follows a normal distribution with μ= 63. Find the p ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Statistics and Probability Expert

Statistics

Related Questions in Statistics and Probability

In a survey of 100 people 40 were casual drinkers

If we believe the percent to be 75 how many police officers

Can a business have too much money in cash meaning cash on

A puck company wants to sponsor the players with the 10

A test of the null A test of the null hypothesis H 0 : μ = μ 0 gives test statistic

Compute the present value of an 1150 payment made in ten

There are 3 orange balls and 17 blue balls that are in a

Given a trend line of y 174x 88 where the variable x is

You paid cash for 1300 worth of stock a year ago today the

Suppose that for a given patient the true ef is 63 consider

Ask Experts for help!!

Looking for Assignment Help?

Why might a bank avoid the use of interest rate swaps even

Describe the difference between zero coupon bonds and

Compute the present value of an annuity of 880 per year

Compute the present value of an 1150 payment made in ten

Compute the present value of an annuity of 699 per year

Follow Us