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The average income of university graduates is $68,500 with a standard deviation of $22,800. Suppose a sample of 30 university graduates is randomly selected. What is the probability that the sample mean will be between $50,000 and $75,000?
Please show calculations for this question: The average income of university graduates is $68,500 with a...
2. The average starting salary for this year's graduates at a large university (LU) is $50,000 with a standard deviation of $8,000. Furthermore, it is known that the starting salaries are normally distributed. a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $61,900? b. Individuals with starting salaries of less than $36,800 receive a low income tax break. What percentage of the graduates will receive the tax break? Please if...
The average starting salary of this year’s graduates of a large university (LU) is $55,000 with a standard deviation of $4,000. Furthermore, it is known that the starting salaries are normally distributed. What is the probability that a randomly selected LU graduate will have a starting salary of at least $52,700? Individuals with starting salaries of less than $45,00 receive a free class. What percentage of the graduates will receive the free class? What percent of graduates will have their...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $157,000. Assume the standard deviation is $33,000. Suppose you take a simple random sample of 44 graduates. Round all answers to four decimal places if necessary. What is the distribution of XX? XX ~ N(,) What is the distribution of ¯xx¯? ¯xx¯ ~ N(,) For a single randomly selected graduate,...
Question 4. Score: 2.2978 Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $153,000. Assume the standard deviation is $39,000. Suppose you take a simple random sample of 49 graduates. Round all answers to four decimal places if necessary. a. What is the distribution of X? X - N( 153,00 v, 39000 v) om b. What is the distribution...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 127000 dollars. Assume the standard deviation is 39000 dollars. Suppose you take a simple random sample of 88 graduates. Find the probability that a single randomly selected salary is at least 123000 dollars. P(X > 123000) = Find the probability that a sample of size n=88 is randomly selected with...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 125000 dollars. Assume the population standard deviation is 34000 dollars. Suppose you take a simple random sample of 89 graduates. Find the probability that a single randomly selected salary that doesn't exceed 128000 dollars. Answer = Find the probability that a sample of size n=89n=89 is randomly selected with a...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 162000 dollars. Assume the population standard deviation is 38000 dollars. Suppose you take a simple random sample of 96 graduates. Find the probability that a single randomly selected salary that doesn't exceed 166000 dollars. Answer = ______ Find the probability that a sample of size n = 96 is randomly...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 139000 dollars. Assume the standard deviation is 42000 dollars. Suppose you take a simple random sample of 87 graduates. Find the probability that a single randomly selected salary is at most 141000 dollars. Answer = Incorrect Find the probability that a sample of size n = 87 n = 87...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 153000 dollars. Assume the standard deviation is 43000 dollars. Suppose you take a simple random sample of 61 graduates. Find the probability that a single randomly selected salary is more than 149000 dollars. P(X > 149000) = Find the probability that a sample of size n = 61 is randomly...
A university is interested in promoting graduates of its honors program by establishing that the mean GPA of these graduates exceeds 4.3. A sample of 44 honors students is taken and is found to have a mean GPA equal to 4.4. The population standard deviation is assumed to equal 0.40. The parameter to be tested is O the mean GPA of 4.4 for the 44 selected honors students the mean GPA of all university students the proportion of honors students...