In a nationwide survey of 1000companies with more than 50 employees, managers we

Question

In a nationwide survey of 1000companies with more than 50 employees, managers were asked to rankvarious factors that influence their decisions in hiring employees. Each factor was ranked on a scale of 1 to 10, with 1 beingnot important and 10 being very important. The factor"educational background" received a mean ranking of 7.2.

a.       Is the sample mean of 7.2exactly the same as the population mean?

b.       If another sample of 1000companies is taken, do you expect the sample mean to be 7.2 again? Why or why

      not?

c.       Repeating this experimentmany times with different samples, what values for the sample meanswould be

      possible? What valueswould repeat more often?

Explanation / Answer

The point estimate of the population mean is the sample meanin this case its true. We are assuming and giong to follow a test for the populationmean. b)If you are taken another sample from the same population itmight not be the same sample mean.because it may have higher or lowmean than before. c) when you are taking sample with unbiased way that is randomso it has possible to get the sample mean 7.2 or may be nearer tothe value.If you concentrate on the very important group it not bethe same ,sample mean may be high.

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