Question

A data collected on 60 persons’ salaries and years of experience is given by the following table: Please show work.

1. a. Find the expected salary given 10 years of experience? Find the variance of salary given 10 years of experience?
2. b. Find the expected years of experience given a salary of $120? Find the variance of years of experience given a salary of $120?

Salary
Years of experience	$100	$120
10	20	4
18	6	30

Answer 1

A.

Expected Salary given 10 years of experience = (100*20 + 120*4)/24

= 2480/24

=103.33

Variance of Salary given 10 years of experience = Formula Below

= 55.556

Data for A:

100	100
100	100
100	100
100	100
100	100
100	100
100	100
100	100
100	120
100	120
100	120
100	120

B.

Expected years of experience given a salary of $120 = 17.059

Variance of years of experience given a salary of $120 = 6.644

Data for B:

10	18
10	18
10	18
10	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18
18	18

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