Time in Purgatory: Examining the Grant Lag for U.S. Patent Applications, \" publ

Question

Time in Purgatory: Examining the Grant Lag for U.S. Patent Applications, " published online by the Berkeley Electronic Press in 2003, examined grant lag (period of time between an initial patent application and its final granting, in months) for patents on record between 1976 and 1996. There were well over 1 million patents during this period, and their grant lag time had mean 28.4 months, standard deviation 19.7 months.5 Mean grant lag was found for various smaller subgroups taken from the larger population, depending on who held property rights to the patent. Tell whether each of these would have a positive or negative standardized score Government: mean 31.1 Independent: mean 28.7 Unassigned: mean 26.4

Explanation / Answer

we have the mean for grant lag time is 28.4 months and standard deviation as 19.7 months

a) government mean 31.1

hence standardized score=z=(31.1-28.4)/19.7=0.137>0 so positive standardized score

b) independent mean 28.7

z=(28.7-28.4)/19.7=0.015>0 so positive standardized score

c) unassigned mean 26.4

z=(26.4-28.4)/19.7=-0.102<0 so negative standardized score

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