Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(1 point) The table below shows the probability distribution of job satisfaction scores (1 - 4) for a group of executives. A score of 1

image text in transcribed
(1 point) The table below shows the probability distribution of job satisfaction scores (1 - 4) for a group of executives. A score of 1 indicates strong dissatisfaction with their jobs; a score of 4 indicates strong satisfaction with their jobs. Note that you must complete both parts a. and b. to receive any marks for the remaining parts of this question. a. Complete the missing value in the following table. Round to at least FIVE decimals if necessary. Job satisfaction score Probability of score 1 0.21 2 i 3 0.12 4 0.48 b. What is the expected iob satisfaction score for this group of executives? Answer: Do NOT round your answer! c. What is the standard deviation of the job satisfaction score for this group of executives? Answer: Bound to at least FIVE decimals if necessary (1. Suppose an executive expects to earn an additional 4200 dollars per year for each job satisfaction score point. The executive also will receive a xed 200 dollar yearly raise and will have an extra 400 dollar cost per year for living adjustment. What is the expected yearly earnings for this executive? Answer: Bound to at least FIVE decimals if necessary

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting Business Reporting For Decision Making

Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver

4th Edition

978-0730302414, 0730302415

Students also viewed these Mathematics questions