1.The file P07_02.xlsx contains data on the 1995 students who have gone through the MBA program at State University. You can consider this the population of State

University���s MBA students.

Round your answers to two decimal places, if necessary and if your answer is negative value, enter “minus” sign.

a. Find the mean and standard deviation for each of the numerical variables in this population.

Mean

Standard Deviation

Age

Children

GMAT Score

Previous Salary

Monthly Expenses

School Debt

Find the following proportions:

The proportion of students who are male.

The proportion of students who are international (not from the USA).

The proportion of students under 30 years of age.

The proportion of students with an engineering undergrad major.

2.b. Using the method in this section (not StatTools), generate a simple random sample of 100 students from this population, and find the mean and standard deviation

of each numerical variable in the sample.

Mean

Standard Deviation

Age

Children

GMAT Score

Previous Salary

Monthly Expenses

School Debt

3. The file P07_14.xlsx contains a very small population of only five members. For each member, the height of the person is listed. The purpose of this problem is to

let you see exactly what a sampling distribution is. Find the exact sampling distribution of the sample mean with sample size 2. (If necessary, round your answers to

four decimal places.)

Mean of sampling distribution

Standard deviation of sampling distribution

Verify that Equation (7.1) holds, that is, the mean of this sampling distribution is equal to the population mean.

4. . A manufacturing company���s quality control personnel have recorded the proportion of defective items for each of 500 monthly shipments of one of the computer

components that the company produces. The data are in the file P07_07.xlsx. The quality control department manager does not have sufficient time to review all of these

data. Rather, she would like to examine the proportions of defective items for a sample of these shipments. For this problem, you can assume that the population is the

data from the 500 shipments.

a. Use Excel to generate a simple random sample of size 25 from the data.

b. Calculate a point estimate of the population mean from the sample selected in part a. What is the sampling error, that is, by how much does the sample mean

differ from the population mean?

c. Calculate a good approximation for the standard error of the mean.

d. Repeat parts b and c after generating a simple random sample of size 50 from the population. Is this estimate bound to be more accurate than the one in part b?

Is its standard error bound to be smaller than the one in part c?

1.The file P07_02.xlsx contains data on the 1995 students who have gone through the MBA program at State University. You can consider this the population of State

University���s MBA students.

Round your answers to two decimal places, if necessary and if your answer is negative value, enter “minus” sign.

a. Find the mean and standard deviation for each of the numerical variables in this population.

Mean

Standard Deviation

Age

Children

GMAT Score

Previous Salary

Monthly Expenses

School Debt

Find the following proportions:

The proportion of students who are male.

The proportion of students who are international (not from the USA).

The proportion of students under 30 years of age.

The proportion of students with an engineering undergrad major.

2.b. Using the method in this section (not StatTools), generate a simple random sample of 100 students from this population, and find the mean and standard deviation

of each numerical variable in the sample.

Mean

Standard Deviation

Age

Children

GMAT Score

Previous Salary

Monthly Expenses

School Debt

3. The file P07_14.xlsx contains a very small population of only five members. For each member, the height of the person is listed. The purpose of this problem is to

let you see exactly what a sampling distribution is. Find the exact sampling distribution of the sample mean with sample size 2. (If necessary, round your answers to

four decimal places.)

Mean of sampling distribution

Standard deviation of sampling distribution

Verify that Equation (7.1) holds, that is, the mean of this sampling distribution is equal to the population mean.

4. . A manufacturing company���s quality control personnel have recorded the proportion of defective items for each of 500 monthly shipments of one of the computer

components that the company produces. The data are in the file P07_07.xlsx. The quality control department manager does not have sufficient time to review all of these

data. Rather, she would like to examine the proportions of defective items for a sample of these shipments. For this problem, you can assume that the population is the

data from the 500 shipments.

a. Use Excel to generate a simple random sample of size 25 from the data.

b. Calculate a point estimate of the population mean from the sample selected in part a. What is the sampling error, that is, by how much does the sample mean

differ from the population mean?

c. Calculate a good approximation for the standard error of the mean.

d. Repeat parts b and c after generating a simple random sample of size 50 from the population. Is this estimate bound to be more accurate than the one in part b?

Is its standard error bound to be smaller than the one in part c?

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