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# Answer: z Scores. In Exercises, express allz scores with ISBN: 9780321836960 18

## Solution for problem 7BSC Chapter 3.4

Elementary Statistics | 12th Edition

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Problem 7BSC

z Scores. In Exercises, express allz scores with two decimal places.

Jobs’ Job When Steve Jobs was Chief Executive Officer (CEO) of Apple, he earned an annual salary of \$1. The CEOs of the 50 largest U.S. companies had a mean salary of \$1, 449, 779 and a standard deviation of \$527, 651 (based on data from USA Today).

a. What is the difference between Jobs’ salary and the mean CEO salary?

b. How many standard deviations is that (the difference found in part (a))?

c. Convert Steve Jobs’ salary to a z score.

d. If we consider “usual” salaries to be those that convert to z scores between −2 and 2, is Steve Jobs’ salary usual or unusual?

Step-by-Step Solution:

Step 1 of 1 :

Jobs’ Job When Steve Jobs was Chief Executive Officer (CEO) of Apple, he earned an annual salary of \$1. The CEOs of the 50 largest U.S. companies had a mean salary of \$1, 449, 779 and a standard deviation of \$527, 651.

We know that mean μ = \$1,449,779 and standard deviation σ = \$527,651

a).

Determine the difference between Jobs’ salary and the mean CEO salary.

The difference is \$1 and \$1,449,779

So  \$1 - \$1,449,779 = \$1,449,778

Therefore \$1,449,778 is the difference between Jobs’ salary and the mean CEO salary.

b).

Standard deviations is that (the difference found in part (a)).

\$1,449,778 is the difference between Jobs’ salary and the mean CEO salary.

And standard deviation σ = \$527,651.

= = Therefore...

Step 2 of 3

Step 3 of 3

##### ISBN: 9780321836960

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