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NEW QUESTION: 1
A study of business faculty at state supported institutions in Ohio revealed that the mean salary for nine months is $52,000 and the standard deviation of the sample is $3,000. The study also showed that the faculty had been employed an average (mean) of 15 years with a standard deviation of 4 years. How does the relative dispersion in the distribution of salaries compare with that of the lengths of service?
A. Salaries about 2%, service about 6%
B. Salaries about 42%, service about 81%
C. Salaries about 6%, service about 27%
D. None of these answers
E. Salaries about 100%, service about 50%
Answer: C
Explanation:
Explanation/Reference:
Explanation:
The coefficient of variation = (s*100)/mean. Salary: 3,000*100/52,000 = 5.7%. Service: 4*100/15 = 26.7%.
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A. Identify the business stakeholders.
B. Review the results of prior audits in the same area.
C. Review the data available in existing business reports
D. Determine if the data is accessible.
Answer: C
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