The file P02_17.xlsx contains the salaries of 200 recent graduates from a (fictional) MBA program.

 

a. What salary level is most indicative of those earned by students graduating from this MBA program this year? 

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2. b. Do the empirical rules for standard deviations apply to these data? Can you tell, or at least make an educated guess, by looking at the shape of the histogram? Why? 
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4. c. If the empirical rules apply here, between which two numbers can you be about 68% sure that the salary of any one of these 200 students will fall? 
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6. d. If the MBA program wants to make a statement such as “Some of our recent graduates started out making X dollars or more, and almost all of them started out making at least Y dollars” for their promotional materials, what values of X and Y would you suggest they use? Defend your choice. 
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8. e. As an admissions officer of this MBA program, how would you proceed to use these findings to market the program to prospective students?                          
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The data table is given below. Salary $106,900 $93,700 Graduate 1 2 3 $230,400 $113,200 $97,300 $140,000 $150,700 $120,000 4 5 7 9 $89,900 10 $166,200 11 $171,500