Question

The following probability distributions of job satisfaction scores for a sample of information systems (IS) senior executives and IS middle managers range from a low of 1 (very dissatisfied) to a high of 5 (very satisfied).

a.What is the expected value of the job satisfaction score for senior executives (to 2 decimals)?
b. What is the expected value of the job satisfaction score for middle managers (to 2 decimals)?
c. Compute the variance of job satisfaction scores for executives and middle managers (to 2 decimals).
Executives
Middle managers
d. Compute the standard deviation of job satisfaction scores for both probability distributions (to 2 decimals).
Executives
Middle managers
e. What comparison can you make about the job satisfaction of senior executives and middle managers?

Answer 1

Explanation:

To calculate ;

1) the expected value of the job satisfaction score for senior executives ;

expected value = Summation (Px)

= 1 x 0.05 + 2 x 0.09 + 3 x 0.03 + 4 x 0.42 + 5 x 0.41

= 4.05

2) the expected value of the job satisfaction score for middle managers;

= 1 x 0.04 + 2 x 0.10 + 3 x 0.12 + 4 x 0.46 + 5 x 0.28

= 3.84

c) the variance of job satisfaction scores for executives and middle managers (to 2 decimals).

Executives ; Variance = Summation(PX^2 - Summation(PX)^2

i) For Executive Managers = 1 x 0.05 + 2^2 x 0.09 + 3^2 x 0.03 + 4^2 x 0.42 + 5^2 x 0.41 - 4.05^2 = 1.246 = 1.25

ii) for middle managers ; 1 x 0.04 + 2^2 x 0.10 + 3^2 x 0.12 + 4^2 x 0.46 + 5^2 x 0.28 - 3.84^2 = 1.134 = 1.13

d) the standard deviation of job satisfaction scores for both probability distributions (to 2 decimals). Executives, Middle managers;

For Executives = square root [ 1 x 0.05 + 2^2 x 0.09 + 3^2 x 0.03 + 4^2 x 0.42 + 5^2 x 0.41 - 4.05^2] = 1.12

For Middle Managers ; Square root [1 x 0.04 + 2^2 x 0.10 + 3^2 x 0.12 + 4^2 x 0.46 + 5^2 x 0.28 - 3.84^2 ] = 1.06

e) from the values gotten for the variance of both executive and middle managers, the variance of the former is more than that of the latter as such higher satisfaction with the executive managers.