Question
Aa Aa 6. Using scores to compare different populations The International Average salary Income Database provides a comparison of average salaries for various professions. The data are gathered from publications and reports obtained directly from government agencies (such as the U.S Bureau of Labor Statistics) or from the International Labour organization. suppose an industrial/organizational psychologist is interested in the relationships between job satisfaction, job performance, and job compensation. She has data from five different countries on the average monthly salaries paid to accountants. She begins her analysis by converting all of the salary data into U.S. dollars: Standard Average Monthly salary Deviation original (U.s. dollars) (us. dollars) currency Country $139.20 koruna $928 the Czech Republic lat $106.40 $709 Latvia $836.80 $2,789 Won Korea $89.60 leu $597 Romania $1,011.00 dollar $3,370 the United States To appreciate the differences among the countries, she calculates the z-scores for an accountant making $1,500 per month. Use the dropdown menus to complete the following table. z-score for $1,500 salary Country the Czech Republic Latvia Korea Romania the United States
Explanation / Answer
Solution
z-score of salary = {(salary – average salary)/standard deviation of salary}
z-scores of salary $1500 for the given five countries:
Country
Average salary (µ)
Standard deviation of salary ()
z-score = (1500 - µ)/
Czech Republic
928
139.2
4.109195402
Latvia
709
106.4
7.434210526
Korea
2789
836.8
-1.540391969
Romania
597
89.6
10.078125
United States
3370
1011
-1.849653808
Accountant from Latvia ia likely to be most pleased with the offer since z-score is the highest in Latvia among the given 5 countries.
DONE
Country
Average salary (µ)
Standard deviation of salary ()
z-score = (1500 - µ)/
Czech Republic
928
139.2
4.109195402
Latvia
709
106.4
7.434210526
Korea
2789
836.8
-1.540391969
Romania
597
89.6
10.078125
United States
3370
1011
-1.849653808