In 2011, Forbes surveyed 16,000 alumni (class of 2006) at more than 100 2-year business schools. Of
Question:
Fig. 115
a. Given that the distribution of post-MBA salaries is unimodal, is it skewed left, skewed right, or symmetric? Which is a better measure of the center, the mean or the median? Explain.
b. Estimate the median pre-MBA salary and the median post-MBA salary. What do they mean in this situation?
c. Find the difference of the median post-MBA salary and the median pre-MBA salary. What does it mean in this situation?
d. Estimate the median tuition.
e. Estimate a student€™s break-even point. That is, counting from the first day a person attends business school, estimate how long it will take the person to make up for paying two years of tuition plus not working for two years. Assume the person pays the full tuition and that salaries do not increase.
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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