1. Objectives:
1) Select a simple random sample by random number table orExcel.
2) Know the sampling distribution of and, and calculate theprobabilities by excel.
Q1: The director of personnel for Electronics Associates, Inc(EAI), has been assigned the task of developing a profile of thecompany’s 250 managers. The characteristics to be identifiedinclude the mean annual salary for the managers and the proportionof managers have completed the company’s management trainingprogram. Using the 2500 managers as the population for this study.(See data in a file named EAI).
Select a simple random sample of 30 managers from the 2500 EAImanagers.
Q2: Business Weej conducted a survey of graduates from 30 topMBA programs (Business-Week, September 22, 2003). On the basis ofthe survey, assume that the mean annual salary for male and femalegraduates 10 years after graduation is $168,000 and $117,000,respectively. Assume the standard deviation for the male graduatesis $40,000, and for the female graduates, it is $25,000.
a. What is the probability that a simple random sample of 40male graduates will provide a sample mean within $10,000 of thepopulation mean, $168,000?
b. What is the probability that a simple random sample of 40female graduates will provide a sample mean within $10,000 of thepopulation mean, $117,000?
c. In which of the preceding two cases, part (a) and part (b),do we have a higher probability of obtaining a sample estimatewithin $10,000 of the population mean? Comment on the results.
Q3: The Grocery Manufacturers of America reported that 76% ofconsumers read the ingredients listed on a product’s label. Assumethe population proportion p=0.76, and a sample of 400 consumers isselected from the population.
a. Show the sampling distribution of the sample proportion,where is the proportion of the sampled consumers who read theingredients listed on a product’s label.
b. What is the probability that the sample proportion will bewithin +- 0.03 of the population proportion?
c. Answer part (b) for a sample of 750 consumers.
