Question 2. a) Find the values of z which cut off the bottom 15% the middle 50%

Question

Question 2. a) Find the values of z which cut off the bottom 15% the middle 50% of the standard normal distribution. i, ii, iii, the top 10% (15marks) b) The University of Texas McCombs School of Business has published information on its website regarding the salaries being earned by recent graduates of its Bachelor in Business Administration. According to that data, the 73 graduates who went on to work in Marketing have a mean salary of $48.286 with a standard deviation of $9,690, while the 202 graduates who went on to work in Finance have a mean salary of $61,130 with a standard deviation of $10,284. If you had the opportunity to advise the recruitment officer at the University on how to recruit more students who are interested in Marketing (as opposed to Finance) jobs upon graduation Set the hypothesis to test in order to achieve your objective and explain why you chose it Based on the data above, indicate whether your hypothesis is supported i. ii. (18 marks)

Explanation / Answer

Solution:-

a)

i) z-score for Top 10% is 1.282.

p-value for the top 10% = 0.90

z-score for the p-value = 1.282

ii) z-score for bottom 15% is - 1.037

p-value for the bottom 15% = 0.15

z-score for the p-value = - 1.037

iii) z-score for the middle 50% is + 0.675.

p-value for the middle 50% = 0.25 and 0.75

z-score for the p-value = + 0.675

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