Oscar Mårtensson & David Manukyan - Assignment 4
Oscar Mårtensson & David Manukyan - Assignment 4
Oscar Mårtensson & David Manukyan - Assignment 4
a)
Expected monthly salary (W/O Partnership): 10851.2074800611
Monthly salary at Consultancy firm: 6666.66666666667
b)
Standard deviation monthly salary: 8583.99541304677
The problem with calculating the standard deviation on this simulated data is that it is purely random
generated values. In reality there will be other factors and changes over time that will affect the varia
words, this standard deviation is not meaningful and cannot be expected to accurately and reliably re
as the variance is dependent only on the assumptions we have made to create it.
c)
Consulting Salary
Estimate Mean 6666.66666666667
Estimate of SD 0
Mean salary over 3 years 6666.66666666667
95% C.I of Mean salary over 3 years 0
Lower Bound 0
Upper Bound 0
Pr(Salary given month) > 6667
Number of full years with salary
Pr(Salary given year) > 80000
at it is purely random using randomly
at will affect the variance in salary. In other
urately and reliably reflect a realistic scenario
t.