Base Salaries in the United Kingdom Free Essay Example

The following data are t, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

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Find the mean of the CEO salaries, in thousands of dollars, rounded to 2 decimal places. Place it in the blank. Note: $177,760 should be recorded as 177.76. Do not use a dollar sign.

Solution:

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Mean	172.34

2. The following data are the base salaries, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Find the median of the CEO salaries,in thousands of dollars, rounded to 2 decimal places. Place it in the blank. Note: $177,760 should be recorded as 177.76. Do not use a dollar sign.

Solution:

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Median	165

3. The following data are the base salaries, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Find the variance of the CEO salaries, in thousands of dollars, rounded to 2 decimal places. Place it in the blank. Note: $177,760 should be recorded as 177.76. Do not use a dollar sign.

Solution:

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Variance	1930.88

4. The following data are the base salaries, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Find the standard deviation of the CEO salaries, in thousands of dollars, rounded to 2 decimal places. Place it in the blank. Note: $177,760 should be recorded as 177.76. Do not use a dollar sign.

Solution:

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Standard Deviation	43.94

5. The following data are the base salaries, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Find the interquartile range of the CEO salaries, in thousands of dollars, rounded to 2 decimal places. Place it in the blank. Note: $177,760 should be recorded as 177.76. Do not use a dollar sign.

Solution:

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Q1	138.25
Q2	208
IQR	69.75

6. The following data are the base salaries, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Find the 10% trimmed mean of the CEO salaries, in thousands of dollars, rounded to 3 decimal places. Place it in the blank. Note: $177,760 should be recorded as 177.760. Do not use a dollar sign.

Solution:

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Trimmed Mean	171.652

7. The following data are the base salaries, in thousands of dollars, of a sample of 50 chief executive officers of companies doing business with the state of Connecticut.

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

Which of the relative frequency histograms given below best reflects the CEO salary data?

Solution:

8. An urn contains 12 balls identical in every respect except their color. There are 3 red balls, 7 green balls, and 2 blue balls. You draw two balls from the urn, but replace the first ball before drawing the second. Find the probability that the first ball drawn is red and the second ball drawn is green. Place your answer, rounded to 4 decimal places, in the blank.

Solution:

9. Ann is applying for a bank loan to open a pizza franchise. She must first complete a written application and then, if the written application is approved, be interviewed by bank officers. If an applicant's written application is not approved the applicant is not granted an interview with the bank officers. Past records for this bank show that the probability of an applicant having his or her written application approved is 0.63. Records also indicate that the interviewing committee of bank officers approve 85% of the individuals they interview. Find the probability that Ann's loan request is approved. Place your answer, rounded to 4 decimal places, in the blank.

Solution:

10. A restaurant menu has a price-fixed complete dinner that consists of an appetizer, entr?e, beverage, and dessert. You have a choice of five appetizers, ten entrees, three beverages, and six desserts. How many possible complete dinners are possible? Place your answer, as whole number-no decimal places-in the blank.

Solution:

11. The Big Triple at the local racetrack consists of picking the correct order of finish of the first three horses in the ninth race. If there are 12 horses entered in today's ninth race, how many Big Triple outcomes are possible? Place your answer, as whole number-no decimal places-in the blank.

Solution:

Using permutations;

12. In February 2002 the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products. According to a survey conducted by AC Nielsen in April 2002, 68% of the consumers in Argentina were buying fewer products than before the devaluation, 24% were buying the same number of products, and 8% were buying more products. Furthermore, in a trend toward purchasing less-expensive brands, 88% indicated that they had changed the brands they purchased. Suppose the following complete set of results were reported.

	Number of Products Purchased
Brands Purchased	Fewer	Same	More	Total
Same	10	14	24	48
Changed	262	82	8	352
Total	272	96	32	400

What is the probability that a consumer selected at random purchased fewer products than before? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

13. In February 2002 the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products. According to a survey conducted by AC Nielsen in April 2002, 68% of the consumers in Argentina were buying fewer products than before the devaluation, 24% were buying the same number of products, and 8% were buying more products. Furthermore, in a trend toward purchasing less-expensive brands, 88% indicated that they had changed the brands they purchased. Suppose the following complete set of results were reported.

	Number of Products Purchased
Brands Purchased	Fewer	Same	More	Total
Same	10	14	24	48
Changed	262	82	8	352
Total	272	96	32	400

What is the probability that a consumer selected at random purchased the same number or more products than before? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

14. In February 2002 the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products. According to a survey conducted by AC Nielsen in April 2002, 68% of the consumers in Argentina were buying fewer products than before the devaluation, 24% were buying the same number of products, and 8% were buying more products. Furthermore, in a trend toward purchasing less-expensive brands, 88% indicated that they had changed the brands they purchased. Suppose the following complete set of results were reported.

	Number of Products Purchased
Brands Purchased	Fewer	Same	More	Total
Same	10	14	24	48
Changed	262	82	8	352
Total	272	96	32	400

What is the probability that a consumer selected at random purchased fewer products than before and changed brands? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

15. In February 2002 the Argentine peso lost 70% of its value compared to the United States dollar. This devaluation drastically raised the price of imported products. According to a survey conducted by AC Nielsen in April 2002, 68% of the consumers in Argentina were buying fewer products than before the devaluation, 24% were buying the same number of products, and 8% were buying more products. Furthermore, in a trend toward purchasing less-expensive brands, 88% indicated that they had changed the brands they purchased. Suppose the following complete set of results were reported.

	Number of Products Purchased
Brands Purchased	Fewer	Same	More	Total
Same	10	14	24	48
Changed	262	82	8	352
Total	272	96	32	400

Given that a consumer changed the brands, what then is the probability that the consumer purchased fewer products than before? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

16. Suppose that the probability that a new medication will cause a bad side effect is 0.03. If this medication is given to 150 people, what is the probability that exactly three of them will experience a bad side effect? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

17. Suppose that the probability that a new medication will cause a bad side effect is 0.03. If this medication is given to 150 people, what is the probability that more than three of them will experience a bad side effect? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

18. Past records at an appliance store show that 60% of the customers who look at appliances will buy one. What is the probability that the first sale of the day will be made to the fourth customer who looks at an appliance in this store? Place your answer, rounded to 4 decimal places, in the blank.

Solution:

19. Categorize the style of gathering data in the following scenario. You give one group of students a flu vaccination and compare the number of times these students are sick during the semester with students in a group who did not receive the vaccination.

A. sampling

B. experimental

C. simulation

D. census

20. Identify the sampling technique used in the following situation. You divide the subscribers of a magazine into three different income categories: low, medium, and high and then select a random sample from each category to survey about their favorite article.

A. simple random

B. convenience

C. stratified

D. cluster

Base Salaries in the United Kingdom

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125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150

125	157	113	127	201
165	145	119	148	158
148	168	117	105	136
136	125	148	108	178
179	191	225	204	104
205	197	119	209	157
209	205	221	178	247
235	217	222	224	187
265	148	165	228	239
245	152	148	115	150