Pelosi: “MBA Salaries” p. 118
The copy of the case, case review spreadsheet, and the actual notes from the case are attached. Upload your answers on the spreadsheet to the assignment page. Here are the attached files (below at the end of this message).
Pelosi 118 MBA Data N is 100: a pdf file of the case
Case 2 P 118 Pelosi Notes: Use these Notes to Help–step by step Example
Reference
Pelosi, M.K. and Sandler, T.M. (2003). Elementary statistics: From discovery to decision. Wiley.
Instructions:
The entire Population of salaries for this exercise is 100. Our task is to [1] come up with a random sampling method (my example: picking every 5th) [2] The sample is 20 (if it was 100, it wouldn’t be a sample). [3] then we compute some simple statistics: Mean, Median (and the others, if you choose). [4] Now we compare the sample’s values of Mean and Median to the Text’s (Population). [5] If the values you derived are close to those of the text, then your Random Sample was Representative. [6] Last, it asks for some conclusions about the soundness of the sampling method and if the accuracy could have been improved. [7] Do consult the Help Files first.
P.S. A sample is 20; if it was 100 it would not be a sample, it would be the whole population.
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