The table contains the top salary offer (in thousands of dollars) received by each member of a

Question:

The table contains the top salary offer (in thousands of dollars) received by each member of a sample of 50 MBA students who recently graduated from the Graduate School of Management at Rutgers, the state university of New Jersey.

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Source: Career Services Office, Graduate School of Management, Rutgers University.

a. The mean and standard deviation are 52.33 and 9.22, respectively. Find and interpret the z-score associated with the highest salary offer, the lowest salary offer, and the mean salary offer. Would you consider the highest offer to be unusually high? Why or why not?

b. Use a statistical software package to construct a box plot for this data set. Which salary offers (if any) are potentially faulty observations? Explain.

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Related Book For  book-img-for-question

Statistics For Business And Economics

ISBN: 9780130272935

8th Edition

Authors: James T. McClave, Terry Sincich, P. George Benson

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