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The following probability distributions of job satisfaction scores for a sample of information systems (IS) senior executives and middle managers range from a low of 1 (very dissatisfied) to a high of 5 (very satisfied).
Job Satisfaction Score Probability
IS Senior Executives IS Middle Managers
1 0.06 0.04
2 0.09 0.10
3 0.03 0.13
4 0.42 0.45
5 0.40 0.28
(a) What is the expected value of the job satisfaction score for senior executives?
(b) What is the expected value of the job satisfaction score for middle managers (to 2 decimals)?

Sagot :

anthougo

Answer:

a) The expected value of the job satisfaction score for senior executives is:

= 4.01

b) The expected value of the job satisfaction score for middle managers is:

= 3.83

Step-by-step explanation:

a) Data and Calculations:

Job Satisfaction             Probability

Score  

                IS Senior Executives    IS Middle Managers

1                          0.06                             0.04

2                         0.09                             0.10

3                         0.03                             0.13

4                         0.42                             0.45

5                         0.40                             0.28

Low of 1 = very dissatisfied

High of 5 = very satisfied

Job Satisfaction     IS Senior Executives             IS Middle Managers

      Score       Probability  Expected Value   Probability  Expected Value

1                      0.06               0.06 (1 * 0.06)      0.04           0.04 (1 * 0.04)

2                     0.09               0.18 (2 * 0.09)      0.10            0.20 (2 * 0.10)

3                     0.03               0.09 (3 * 0.03)      0.13            0.39 (3 * 0.13)

4                     0.42               1.68 (4 * 0.42)       0.45           1.80 (4 * 0.45)

5                     0.40               2  (5 * 0.40)         0.28            1.40 (5 * 0.28)

Expected value                    4.01                                          3.83

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