Analysis of income data based on a survey of 33 professors at a large midwestern university produced the Report: "Average income (all sources)of professors is $64,245.21." An astute reader would conclude that
A)the precision and accuracy are acceptable.
B)the accuracy is unjustified.
C)professors are not honest when they report their salaries.
D)the precision is unjustified.

Question

Quizplus · Accepted Answer

The precision of the reported average income to the cent ($64,245.21) suggests a level of exactness that is unlikely to be justified given the variability in income data and the sample size of 33 professors. It implies a level of detail that the data may not support.

Analysis of Income Data Based on a Survey of 33