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Category > Management Posted 09 Jan 2018 My Price 9.00

population parameter

In Section 9.1, read the paragraph that begins with “Hypothesis testing is applied to population parameters by specifying a null value...” on page 314. Now refer to Exercise 9.6, for which the population parameter of interest would be the difference in mean salaries for all males and all females in the company.

a. What null value for the population parameter would indicate that there is no problem with equity in salaries?

b. As stated in Exercise 9.6, the mean salaries for a random sample of 100 male and 100 female employees were $51,000 and $49,500, respectively. What numerical value could be used as a sample statistic to estimate the population parameter of interest?

c. Would statistical significance be more likely to be achieved if the sample statistic was higher than the value you specified in part (b), or if it was lower than that value? Explain.

Exercise 9.6

Some stockholders want to know whether the mean salary for male employees in a large company is higher than the mean salary for female employees. The company allows them access to salary information for a random sample of 100 male and 100 female employees, and the mean salaries are $51,000 for the males and $49,500 for the females.

a. Are the mean salaries in this example statistics or parameters? Explain.

b. Based on these means, can the shareholders determine that the mean salary for males in the company is higher than the mean salary for females? Explain.

c. If they selected new random samples of 100 males and 100 females, would the average salaries of those samples be $51,000 and $49,500? Explain.

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Maurice Tutor
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Status NEW Posted 09 Jan 2018 09:01 PM My Price 9.00

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