×
Log in to StudySoup
Get Full Access to Statistics - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Statistics - Textbook Survival Guide

Answer: z Scores. In Exercises, express allz scores with

Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola ISBN: 9780321836960 18

Solution for problem 7BSC Chapter 3.4

Elementary Statistics | 12th Edition

  • Textbook Solutions
  • 2901 Step-by-step solutions solved by professors and subject experts
  • Get 24/7 help from StudySoup virtual teaching assistants
Elementary Statistics | 12th Edition | ISBN: 9780321836960 | Authors: Mario F. Triola

Elementary Statistics | 12th Edition

4 5 1 401 Reviews
16
2
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:

Answer :

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

Chapter 3.4, Problem 7BSC is Solved
Step 3 of 3

Textbook: Elementary Statistics
Edition: 12
Author: Mario F. Triola
ISBN: 9780321836960

Unlock Textbook Solution

Enter your email below to unlock your verified solution to:

Answer: z Scores. In Exercises, express allz scores with

×
Log in to StudySoup
Get Full Access to Statistics - Textbook Survival Guide
Join StudySoup for FREE
Get Full Access to Statistics - Textbook Survival Guide
×
Reset your password