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Executive MBA programs have become increasingly popular. In an article titled “The Best Executive MBAs,” Business Week provided data concerning the top 25 executive MBA programs for one specific year. The tuition for each of the schools selected was given. A file titled EMBA contains this data.
a. Calculate the 20th, 40th, 60th, and 80th percentile among the ranks.
b. Calculate the mean and standard deviation of the tuition for the five subgroups defined by the rank percentiles in part a. (Hint: For this purpose, are the data subgroups samples or populations?)
c. Do the various subgroups’ descriptive statistics echo their standing among the listed programs? Comment.
When PricewaterhouseCoopers Saratoga released its Human Capital Index Report, it indicated that the average hiring cost for an American company to fill a job vacancy was $3,270. Sample data for recent job hires is in a file titled Hired.
a. Calculate the variance and standard deviation for the sample data.
b. Construct a box and whisker plot. Does this plot indicate that extreme values (outliers) may be inflating the measures of spread calculated in part a?
c. Suggest and calculate a measure of spread that is not affected by outliers.