Maurice Tutor

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About Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 399 Weeks Ago, 1 Day Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 22 Feb 2018 My Price 4.00

IMA salary survey

IMA salary survey. Each year, Management Accounting reports the results of a salary survey of the members of the Institute of Management Accountants (IMA). One year, the 2,112 members responding had a salary distribution with a 20th percentile of $35,100, a median of $50,000, and an 80th percentile of $73,000.

a. Use this information to determine the minimum sample size that could be used in next year’s survey to estimate the mean salary of IMA members to within $2,000 with 98% confidence. [Hint: To estimate s, first apply Chebyshev’s theorem to find k such that at least 60% of the data fall within k standard deviations of μ. Then find s (80th percentile –20th percentile)/ 2k.]

b. Explain how you estimated the standard deviation required for the calculation of the sample size.

c. List any assumptions you make.

Answers

Maurice Tutor
(5)
Status NEW Posted 22 Feb 2018 09:02 PM My Price 4.00

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