The average starting salary for an MBA graduate in the class of 2018 was $102,000. Assume...
The average starting salary for an MBA graduate in the class of 2018 was $102,000.
Assume the population standard deviation for starting MBA salaries was $16,000.
A random sample of 35 MBA graduates from the class of 2018 was selected.
a.What is the probability that the sample mean is less than $104,000?
b. What is the probability that the sample mean is more than $100,000?
c. What is the probability that the sample mean is between $102,000 and $104,000?
d. Suppose the sample mean was $104,500. Does this result support the average starting salary findings?
The probability that the average starting salary is more than $104,500 is _________.
The result (does; does not) support the findings because this probability is (less than or equal to; greater than) 0.05.
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