Jobs\' Job When Steve Jobs was Chief Executive Officer (CEO) of Apple, he earned

Question

Jobs' Job When Steve Jobs was Chief Executive Officer (CEO) of Apple, he earned an annual salary of $1. The CEOs of the 50 largest U.S. companies had a mean salary of $1, 449, 779 and a standard deviation of $527, 651 (based on data from USA Today). What is the difference between Jobs' salary and the mean CEO salary? How many standard deviations is that (the difference found in part (a))? Convert Steve Jobs' salary to a z score. If we consider "usual" salaries to be those that convert to z scores between -2 and 2, is Steve Jobs' salary usual or unusual?

Explanation / Answer

a)differnce b/w Jobs and mean CEO salary =1-1449779=1449778

b) number od std deviations =(1449778)/527651=-2.7476 std deviation

c) as z score is a measre of random variable's distance from its mean in terms of std deviation.

hence from above Steve Jobs' Salary Z score =-2.7476

d) it is unusual as it falls outside of 2 and -2 interval

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