\\ (a) What is the point estimate for the average annual salary paid to B&T empl
ID: 3060735 • Letter: #
Question
(a) What is the point estimate for the average annual salary paid to B&T
employees in each of the six grades? DO NOT INCLUDE CEO
Please round your answers to the nearest whole dollar.
(12 points)
(b) For the Vice Presidents (GRADE 6) only, find the 95% Confidence Interval
for the average annual salary.
(2 points)
NUM SALARY AGE PRIOR EDUC COMP GRADE EXPERI GENDER CITIZEN LOCATION 1 $44,000 26 1 4 1 1 4 0 1 2 2 $51,000 39 1 1 0 1 15 1 1 3 3 $44,000 35 0 1 0 1 13 1 1 1 4 $43,000 40 7 2 0 1 9 1 1 2 5 $47,000 29 0 4 0 1 4 0 1 1 6 $42,000 25 0 3 0 1 4 1 1 3 7 $49,000 28 0 3 0 1 5 1 1 3 8 $50,000 33 2 3 0 1 9 0 1 3 9 $48,000 62 0 1 0 1 5 1 1 2 10 $46,000 32 0 3 0 1 10 1 1 4 11 $52,000 34 2 4 0 1 10 1 1 2 12 $45,000 38 8 2 0 1 9 1 1 2 13 $53,000 37 0 2 0 1 10 1 1 3 14 $52,000 58 6 2 0 1 11 1 1 3 15 $44,000 33 0 3 0 1 5 1 1 2 16 $49,000 27 0 3 0 1 4 1 1 3 17 $40,000 30 0 3 0 1 7 1 1 2 18 $46,000 37 9 2 0 1 9 1 1 3 19 $47,000 45 6 4 0 1 6 1 1 3 20 $46,000 30 3 2 0 1 5 1 1 3 21 $50,000 36 2 3 0 1 5 1 1 3 22 $43,000 29 3 2 0 1 4 0 1 4 23 $52,000 45 0 1 0 1 6 1 1 3 24 $47,000 34 4 2 0 1 4 0 2 4 25 $46,000 24 1 3 0 1 4 0 2 1 26 $47,000 27 1 4 0 1 4 0 1 2 27 $57,000 61 6 2 0 1 17 1 1 3 28 $59,000 49 0 1 0 1 14 1 1 4 29 $52,000 40 6 1 0 1 13 1 1 4 30 $53,000 34 7 2 0 1 5 1 1 5 31 $52,000 35 4 1 0 1 8 1 1 5 32 $56,000 44 0 1 0 1 12 1 1 4 33 $56,000 38 0 2 0 1 14 1 1 2 34 $54,000 43 8 4 0 1 4 0 1 4 35 $59,000 47 2 2 0 1 19 1 1 4 36 $66,000 42 0 2 0 1 15 1 1 5 37 $64,000 47 0 1 0 1 20 1 1 2 38 $40,000 25 2 3 1 1 4 1 1 3 39 $47,000 31 4 2 0 1 3 1 1 4 40 $56,000 41 0 1 0 1 12 1 1 4 41 $55,000 27 2 4 0 1 4 0 1 5 42 $54,000 33 1 3 0 1 6 1 1 2 43 $60,000 51 0 1 0 1 16 1 1 3 44 $54,000 36 0 5 1 1 8 1 3 3 45 $61,000 37 1 3 0 1 13 1 1 3 46 $54,000 63 0 3 0 1 14 1 1 4 47 $55,000 38 1 3 0 1 13 1 1 3 48 $54,000 45 0 1 0 1 19 1 1 4 49 $55,000 54 3 1 0 1 18 0 1 4 50 $56,000 58 0 2 0 1 10 1 1 4 51 $44,000 41 0 1 0 1 11 1 1 3 52 $52,000 52 10 4 0 1 6 0 1 2 53 $62,000 42 0 1 0 1 16 1 1 4 54 $44,000 54 0 2 0 1 3 1 1 4 55 $60,000 59 3 1 0 1 4 0 1 5 56 $50,000 44 10 1 1 1 5 1 1 5 57 $51,000 32 0 2 0 1 8 1 1 5 58 $42,000 64 0 1 0 1 9 1 1 2 59 $53,000 47 1 3 0 1 16 1 1 4 60 $44,000 37 0 3 1 1 10 1 1 4 61 $52,000 46 0 2 0 1 17 1 1 4 62 $54,000 35 8 2 0 1 5 1 1 5 63 $54,000 56 0 1 0 1 9 1 1 5 64 $41,000 39 0 1 0 1 10 1 1 2 65 $49,000 51 0 3 0 1 19 1 1 5 66 $52,000 38 8 2 0 2 4 1 1 2 67 $46,000 30 3 2 0 2 7 0 2 2 68 $42,000 26 0 3 0 2 5 1 1 3 69 $63,000 42 1 5 1 2 6 1 1 1 70 $48,000 35 4 3 1 2 5 1 1 1 71 $48,000 57 4 2 0 2 8 0 1 2 72 $55,000 53 8 1 0 2 12 1 1 4 73 $48,000 32 4 3 1 2 6 1 1 1 74 $51,000 45 5 1 0 2 18 1 1 3 75 $52,000 26 1 4 0 2 4 0 1 1 76 $48,000 31 9 1 0 2 6 1 1 2 77 $49,000 51 0 1 0 2 10 1 1 4 78 $58,000 48 3 5 1 2 4 1 1 4 79 $48,000 36 0 3 0 2 5 0 1 5 80 $63,000 43 0 2 0 2 17 1 1 4 81 $47,000 46 10 2 0 2 10 1 1 3 82 $59,000 36 0 5 0 2 4 0 1 4 83 $52,000 23 0 4 0 2 5 0 1 2 84 $54,000 58 0 2 0 2 9 1 1 1 85 $66,000 40 0 5 0 2 9 1 1 4 86 $44,000 30 0 3 0 2 7 1 1 2 87 $55,000 35 0 3 0 2 12 1 1 3 88 $61,000 30 4 5 0 2 5 1 1 4 89 $44,000 32 9 1 1 2 4 1 1 3 90 $57,000 53 18 2 0 2 13 0 1 2 91 $67,000 34 5 5 0 2 4 0 1 1 92 $44,000 50 0 1 0 2 9 1 1 1 93 $50,000 35 7 2 0 2 7 1 1 3 94 $55,000 27 1 5 0 2 4 0 1 4 95 $59,000 29 0 5 0 2 5 0 4 5 96 $58,000 35 2 5 0 2 4 1 1 5 97 $41,000 47 1 1 1 2 16 1 1 2 98 $45,000 52 0 1 0 2 16 1 1 2 99 $47,000 27 2 3 0 2 4 0 1 3 100 $44,000 34 0 3 0 2 13 1 1 3 101 $59,000 27 2 4 0 2 3 0 1 4 102 $72,000 34 0 5 1 2 9 1 1 5 103 $54,923 29 0 4 0 2 6 1 1 4 104 $55,039 28 0 3 0 2 6 0 1 3 105 $55,154 44 0 1 0 2 12 1 1 1 106 $55,270 36 3 3 0 2 5 1 1 1 107 $55,385 39 0 1 0 2 10 1 1 3 108 $55,501 60 0 2 0 2 15 1 1 3 109 $55,616 44 5 3 1 3 5 1 1 2 110 $56,000 49 5 2 0 3 16 1 1 2 111 $64,000 33 3 5 0 3 8 1 1 4 112 $51,000 32 0 3 0 3 6 0 1 5 113 $62,000 29 2 5 0 3 8 1 2 4 114 $55,000 36 0 3 0 3 8 1 1 2 115 $51,000 37 12 3 0 3 5 1 1 1 116 $54,000 44 0 2 0 3 11 1 1 3 117 $49,000 33 5 3 0 3 6 1 1 3 118 $66,000 59 4 4 1 3 12 1 1 5 119 $54,000 44 7 3 0 3 10 1 1 3 120 $54,000 37 8 3 1 3 5 1 1 4 121 $59,000 48 6 5 0 3 6 1 1 5 122 $66,000 27 0 5 0 3 5 0 1 4 123 $51,000 26 0 3 0 3 6 1 1 3 124 $58,000 39 0 4 0 3 7 1 1 3 125 $54,000 41 0 3 0 3 7 1 1 3 126 $53,000 29 0 3 0 3 6 0 1 3 127 $50,000 59 0 2 0 3 10 1 1 3 128 $49,000 29 4 2 0 3 6 0 1 2 129 $52,000 27 2 3 1 3 4 1 1 3 130 $54,000 37 0 2 0 3 13 1 1 3 131 $64,000 30 0 5 0 3 5 1 1 4 132 $63,000 34 5 2 0 3 8 1 1 4 133 $51,000 35 2 3 0 3 9 1 1 1 134 $51,000 51 6 2 0 3 13 1 1 2 135 $62,000 33 1 5 0 3 4 1 1 1 136 $49,000 27 0 3 0 3 5 1 1 3 137 $59,000 36 0 5 0 3 4 1 1 3 138 $63,000 34 5 5 1 3 4 1 1 1 139 $58,000 47 0 3 0 3 9 1 1 3 140 $56,000 52 0 1 0 3 22 1 1 4 141 $59,000 43 6 1 0 3 17 1 1 4 142 $65,000 31 0 5 0 3 6 0 1 5 143 $55,000 62 10 2 0 3 26 1 1 3 144 $61,000 46 1 5 0 3 7 0 1 4 145 $56,000 61 9 3 0 3 22 1 1 3 146 $60,000 44 5 4 0 3 7 0 1 2 147 $50,000 54 2 1 0 3 26 1 1 3 148 $60,000 39 1 3 0 3 14 1 1 3 149 $65,000 40 5 5 0 3 7 1 1 1 150 $62,000 45 5 4 0 3 7 1 1 3 151 $70,000 36 0 5 0 3 8 1 1 4 152 $65,000 40 3 4 0 3 9 1 3 4 153 $66,000 33 3 5 0 3 6 1 1 4 154 $72,000 33 3 5 0 4 6 0 1 3 155 $75,000 30 1 5 0 4 5 0 1 3 156 $80,000 38 3 5 0 4 7 0 1 3 157 $85,000 31 0 5 0 4 7 0 1 2 158 $85,000 32 4 5 0 4 6 1 1 3 159 $93,000 38 3 5 0 4 8 1 1 4 160 $88,000 35 1 4 0 4 11 1 1 4 161 $87,000 30 1 5 0 4 6 0 1 2 162 $78,000 50 9 4 0 4 14 1 1 2 163 $89,000 30 0 5 0 4 7 0 1 2 164 $84,000 32 0 5 0 4 8 1 1 3 165 $85,000 32 2 5 0 4 7 0 1 2 166 $81,000 47 4 2 0 4 16 1 1 3 167 $88,000 44 0 3 0 4 18 1 1 3 168 $87,000 27 0 5 0 4 5 0 1 5 169 $86,000 56 0 4 0 4 24 0 1 3 170 $80,000 53 4 3 0 4 6 0 2 3 171 $90,000 50 12 5 0 4 4 1 1 2 172 $84,000 60 8 3 1 4 20 1 1 3 173 $84,000 48 0 3 0 4 27 1 1 3 174 $82,000 44 4 3 0 4 7 0 1 3 175 $94,000 41 0 5 0 4 16 1 1 3 176 $83,000 42 0 3 0 4 17 1 1 5 177 $82,000 39 4 4 1 4 13 1 1 5 178 $85,000 39 0 5 0 4 10 1 1 5 179 $88,000 40 1 3 1 4 15 1 1 4 180 $85,000 49 0 3 0 4 17 1 1 3 181 $82,000 53 1 2 0 4 17 1 1 3 182 $80,000 38 0 3 0 4 12 1 1 4 183 $69,000 40 2 2 0 4 14 1 1 4 184 $94,000 34 0 5 0 5 8 0 1 5 185 $85,000 37 0 5 0 5 9 1 1 3 186 $88,000 31 0 5 0 5 9 0 1 3 187 $98,000 32 0 5 0 5 8 0 1 5 188 $75,000 41 10 5 0 5 7 0 1 2 189 $83,000 46 4 3 0 5 18 1 1 3 190 $86,000 38 2 5 0 5 9 0 1 4 191 $101,000 34 0 5 0 5 9 0 1 5 192 $87,000 35 5 3 0 5 9 1 2 2 193 $87,000 50 5 5 0 5 17 1 1 3 194 $80,000 34 2 5 0 5 7 0 1 4 195 $90,000 32 0 5 0 5 8 0 1 5 196 $93,000 49 4 5 0 5 9 0 1 4 197 $96,000 40 2 5 0 5 13 1 1 4 198 $98,000 37 2 5 0 5 10 1 1 5 199 $94,000 46 2 5 0 5 13 1 1 4 200 $92,000 44 0 4 0 5 17 1 1 4 201 $100,000 36 1 5 0 5 12 0 1 5 202 $96,000 39 0 5 0 5 14 0 1 5 203 $90,000 37 6 5 0 5 10 1 1 5 204 $99,000 41 7 5 0 5 17 0 1 4 205 $95,000 55 3 3 0 5 25 0 1 3 206 $98,000 57 1 5 0 5 18 0 1 3 207 $112,000 50 0 5 0 6 15 0 1 4 208 $104,000 41 0 4 0 6 14 0 1 4 209 $113,000 59 4 5 0 6 20 0 1 4 210 $114,000 52 0 5 0 6 13 0 1 4 211 $118,000 45 0 5 0 6 21 0 1 5 212 $150,000 56 1 5 0 6 21 0 1 4 213 $130,000 57 0 5 0 6 23 0 1 3 214 $128,000 54 0 4 0 6 22 0 4 3 215 $147,000 65 0 4 0 6 31 0 1 4 216 $160,000 66 0 5 0 6 40 0 1 4 217 $187,000 61 0 4 0 6 35 0 1 5 218 $198,000 61 0 5 0 6 37 0 1 5 219 $212,000 62 0 5 0 6 33 0 1 5 220 $210,000 60 0 5 0 6 36 0 1 5 221 $203,000 63 0 5 0 6 34 1 1 5 222 $634,000 68 0 4 0 CEO 41 0 1 5Explanation / Answer
a) What is the point estimate for the average annual salary paid to B&T employees in each of the six grades? DO NOT INCLUDE CEO.
The point estimate for the average annual salary paid to B&T employees in each of the six grades is the sample mean of the annual salary.
The sample mean is sum of all observations divided by total number of observations.
Point estimate of the annual salary = 68216.69
(b) For the Vice Presidents (GRADE 6) only, find the 95% Confidence for the average annual salary.
95% confidence interval for mean annual salary is,
Xbar - E < mu < Xbar + E
where Xbar is the sample mean.
E is the margin of error.
Here for grade6 the number of observations (n) = 16
Here n is small so we use here one sample t-interval.
E = tc * (sd/sqrt(n))
where tc is critical value for t-distribution.
c is confidence level
sd is standard deviation of the data.
n = 20
tc we can find using EXCEL.
syntax :
=TINV(probability, deg_freedom)
where probability = 1 - C = 1 - 0.95 = 0.05
deg_freedom = n-1 = 16-1 = 15
tc = 2.131
E = 2.131 * (126365.6 / sqrt(16)) = 67335.48
95% confidence interval for mu is (182500 - 67335.48, 182500 + 67335.48).
95% confidence interval for mu is (115165, 249835).
We are 95% confident that the mean population annual salary will be lies between these two values.
tc 2.131 m 1,82,500 sd 126365.6 n 16Related Questions
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