Question

The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011 (Economic Policy Institute website, March 30, 2012). Assume the standard deviation for male graduates is $2.30, and for female graduates it is $2.05.

1)What is the expected value of sample mean of the entry-level wages for 50 female college students?

2)What is standard error of sample mean of the entry-level wages for 50 female college students?

3)What is the probability that a sample of 50 female graduates will provide a sample mean within $LaTeX: \pm$ ±$.50 of the population mean, $18.80?

Answer 1

20.9146 0.9573 -0.0427 > P1241.72) - P12C-172) P(-1.72 L 2 2172) re/soc 08-81-:61 i o mrox $0.C 03.81 –ę.81-)d (€ 617878-81 - 103 (3.8175.0 737 8.81-5.0-)d (5.9718081-818 (.5.07 108-81-xpd 0. = 0.9999 300 : yle=js a) f(y) hy = 18.80 50.2= lys 03:31-ley 08:13 19107 210 Po myl24 1197 pou 74 74