usiness Weekly conducted a survey of graduates from several top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $172,000. Assume the standard deviation is $36,000. Suppose you take a simple random sample of 16 graduates. Round all answers to four decimal places if necessary.
A simple random sample of n measurements from a population is a subset of the population selected in a manner such that which of the following is/are true? (Select all that apply.)
Every member of the population has an equal chance of being included in the sample.Every sample of size n from the population has a proportionally weighted chance of being selected.Every sample of size n from the population has an equal chance of being selected.Each subset of the population has an equal chance of being included in the sample.The simplest method of selection is used to create a representative sample.