Question

According to the National Association of Colleges and Employers, the 2015 man starting salary for new college - $51.541. The man 2015 stating for new colega grein business was $33,001. Asume that starting sales normally distributed and that the des $11.000. Assume that the standard deviation for starting lanes for new college graduates in business $17,000. c) What the probability that a new college graduate in business wil eam a starting salary of at least 567.000 (Round your name to four decimal places) 1What is the play that new college graduate in ces will en statine way of at least 67.6607 round your answer to decimal (c) What is the probability that a new college graduate in health concert w warna starting away as the second your to four doom...) (d) How much would new college graduate in business have to adotar in order to have a larger than starting salaries of new college graduates in the health scienced your to the nearest whole number

Answer 1

DATE at slarting X = Salary of new college graduates in health Ye salary of new college gradvades in business at starting XN NG M=51541 o² = (11000)2) Y ~ N(M=53901 6² = (17000) 2) 2 new a) Here have to find probability that college graduate in business will earn a starting salary of at least &67000 1.e PC Y 7, 67000) P (Y 7, 67000) Y-M 6 > 67000 - 53901 = P(Z x 0.7705) From normal probability integral table p(z) 0 7705) = 0.2206 P ( Y> 67000) 0.2206 will earn a 6) Here we have to find probability that new college graduates in health sciences starting salary of at least $67000 i e P(x > 67000) PC X 7, 67000) - pl X-M > 67000 - 51541 llooo =P ( 27 1.4054) CS Scanned with CamScannen

DATE From normal probability integral table 1.4054) = P(Z > 1.41)= 0.0793 :: PC X 67000) = 0.0793 c ) Here we have to find probability that new college in health sciences will a salary less than $ 40000 at starting p( x < 40000) graduate earn P(X < 40000) = P ( x - 4 < 40000 - 51541 llooo P ( 2 L -1.0492) from nomal probability Integral table P(Z <-1.0492) = P(Z 2-1.05)= 0.1469 P ( XL 40000) = 0.1469 d) Here we have given that P(rry) = 0.99 D P(Y-4 = 0.99 11 Y-H L- 5390l 17ooo z ) - 5390) 1 тооо Plz From nonnal probability integral table we get P(Z > 2.32) = 0.99 by comparing we get y 53 gol = 2.32 17ooo > y = 539 01 + (2-32 x 17000) y = 93341 $93341 would new college graduate in business have to earn in dollars to have a starting salary higher than 99% of all starting salaries of new college graduater in health sciences CS Scanned with CamScanner

z table as follows:

Area 0.02 0.09 z 0.0 0.1 0.2 0,3 0.4 0.5 0.6 0.7 0.8 0.9 1,0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0 0 0.01 0.04 0.05 0.06 0.07 0.5000 0.5040 0.5080 0.5120 0.5160 0.5199 0.5239 0.5279 0.5319 0.5359 0.5398 0.5438 0.5478 0.5517 0.5557 0.5596 0.5636 0.5675 0.5714 0.5753 0.5793 0.5832 0.5871 0.5910 0.5948 0.5987 0.6026 0.6064 0.6103 0.6141 0.6179 0.6217 0,6255 0.6293 0.6331 0.6368 0.6406 0.6443 0.6480 0.6517 0.6554 0.6591 0.6626 0.6664 0.6700 0.6736 0.6772 0.6808 0.6844 0.6879 0.6915 0.6950 0.6985 0.7019 0.7054 0.70BB 0.7123 0.7157 0.7190 0.7224 0.7257 0.7291 0.7324 0.7357 0.7389 0.7422 0.7454 0.7486 0.7517 0.7549 0.7580 0.7611 0.7642 0.7673 0.7704 0.7734 0.7764 0.7794 0.7823 0.7852 0.7881 0.7910 0.7939 0.7967 0.7995 0.8023 0.8051 0.8078 0.8106 0.8133 0.8159 0.8186 0.8212 0.6238 0.8264 0.8289 0.8315 0.8340 0.8365 0.8389 0.8413 0.8438 0.8461 0.8485 0.8508 0,8531 0.8554 0.8577 0.8599 0.8621 0.8643 0.8665 0.8686 0.8708 0.8729 0.8749 0.8770 0.8790 0.3810 0.8830 0.8849 0.8869 0.8888 0.8907 0.8925 0.8944 0.8962 0.8980 0.8997 0.9015 0.9032 0.9049 0.9066 0.9082 0.9099 0.9115 0.9131 0.9147 0.9162 0.9177 0.9192 0.9207 0.9222 0.9236 0.9251 0.9265 0.9279 0.9292 0.9306 0.9319 0.9332 0.9345 0.9357 0.9370 0.9382 0.9394 0.9406 0.9418 0.9429 0.9441 0.9452 0.9463 0.9474 0.9484 0.9495 0.9505 0.9515 0.9525 0.9535 0.9545 0.9554 0.9564 0.9573 0.9582 0.9591 0.9599 0.9508 0.9616 0.9625 0.9633 0.9641 0.9649 0.9656 0.9664 0.9671 0.9678 0.9686 0.9693 0.9699 0.9706 0.9713 0.9719 0.9726 0.9732 0.9738 0.9744 0.9750 0.9756 0.9761 0.9767 0.9772 0.9778 0.9783 0.9788 0.9793 0.9798 0.9803 0.9808 0.9612 0.9817 0.9821 0.9826 0.9830 0.9834 0.9838 0.9842 0.9846 0.9850 0.9854 0.9857 0.9861 0.9864 0.9868 0.9871 0.9875 0.9878 0.9881 0.9884 0.9887 0.9890 0.9893 0.9896 0.9898 0.9901 0.9904 0.9906 0.9909 0.9911 0.9913 0.9916 0.9918 0.9920 0.9922 0.9925 0.9927 0.9929 0.9931 0.9932 0.9934 0.9936 0.9938 0.9940 0.9941 0.9943 0.9945 0.9946 0.9948 0.9949 0.9951 0.9952 0.9953 0.9955 0.9956 0.9957 0.9959 0.9960 0.9951 0.9962 0.9963 0.9964 0.9965 0.9966 0.9967 0.9968 0.9969 0.9970 0.9971 0.9972 0.9973 0.9974 0.9974 0.9975 0.9976 0.9977 0.9977 0.9978 0.9979 0.9979 0.9980 0.9981 0.9981 0.9982 0.9982 0.9983 0.9984 0.9984 0.9985 0.9985 0.9986 0.9986 0.9987 0.9987 0.9987 0.9988 0.9988 0.9989 0.9989 0.9989 0.9990 0.9990 0.9990 0.9991 0.9991 0.9991 0.9992 0.9992 0.9992 0.9992 0.9993 0.9993 0.9993 0.9993 0.9994 0.9994 0.9994 0.9994 0.9994 0.9995 0.9995 0.9995 0.9995 0.9995 0.9995 0.9995 0.9996 0.9996 0.9886 0.9996 0.9995 0.9997 0.9997 0.9997 0.9997 0.9997 0.9997 0.9997 0.9997 0.9997 0.9997 0.9998 2.1 2.2 2.3 24 2.5 2.6 2.7 2.8 2.9 3.0 3.1 3.2 3.3 3.4