See attached file.
The director of personnel for Electronic Associates, Inc. (EAI),has been assigned the task of developing a profile of the company's 2500 managers. The characteristics to be identified include the mean annual salary for the managers and the proportion of managers having completed the company's management training program.
Using the 2500 managers as the population for this study,we can find the annual salary and the training program status for each individual by referring to the firm's personnel records.The data file containing this information for all 2500 managers in the population is attached in excel.
The population mean for the annual salary data is $51,800 and the population standard deviation for the annual salary data is $4,000.
The data for the training program status show that 1500 of the 2500 managers completed the training program.Letting (p) denote the proportion of the population that completed the training program,we see that p = 1500/2500 = .60 The population mean annual salary ($51,800),the SD ($4,000) and the population proportion that completed the training program (p=.60) are parameters of the population of EAI managers.
1- Summarize the context of the study within 4 lines.
2- Using descriptive statistics compute the statistics (i.e parameters, since it is the population) on the population compute mean,median,mode,standard deviation, etc that you feel appropiate.
3- Develop 15 samples such that each sample contains 5 data from the population. Plot the distribution and record the statistics of the sample.
4- Repeat above (3) and include 10 data and construct 15 samples. Find the statistics of the sample.
5- Comment on the results.
Please draw the appropriate diagram and use XLS to compute and solve the problem.
The solution provides step by step method for the calculation of descriptive statistics. Formula for the calculation and Interpretations of the results are also included.