Question
Use Salary sheet to answer this question. The file Exam-1.xlsx, sheet named Salary contains salaries of 200 recent graduates from a (fictional) MBA program. Assume
Use Salary sheet to answer this question. The file Exam-1.xlsx, sheet named Salary contains salaries of 200 recent graduates from a (fictional) MBA program. Assume these are sample data. (a) 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? Do the empirical rules for standard deviations apply to these data? (b) If you increased every graduate's salary by $1000, what would happen to the standard deviation of the salaries? In order to receive full credit, you must justify your answer.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-text-image.webp)
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](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Step: 3
![blur-text-image](https://dsd5zvtm8ll6.cloudfront.net/includes/images/document_product_info/blur-subtext-image.webp)
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started