A Sample of Assistant Professors on the Business Faculty at the Largest

question 42

Multiple Choice

A sample of assistant professors on the business faculty at the largest college in Ontario revealed the mean annual income to be $32,000 with a standard deviation of $3,000. Using the Empirical Rule, what proportion of faculty earn more than $26,000 but less than $38,000?

• A) At least 50%
• B) Approximately 68%
• C) At least 75%
• D) Approximately 95%
• E) Almost all

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Definitions:

Social Institution

An organized and established system of social behavior with a recognized purpose, such as family, education, religion, or government.

Economy

A social institution that determines how a society produces, distributes, and consumes goods and services.

Produces

Creates or manufactures goods or outcomes through a process of effort or operation.

Distributes

refers to the process of giving or delivering something to a number of recipients, spreading items or resources evenly or according to a plan.