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?
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2. The average starting salary for this year's graduates at a large university (LU) is $50,000 wi...
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...
The average starting salary of this year's vocational school graduates is $35,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed. Below what starting salary does 5% of the graduates earn?
According to a National Association of Colleges and Employers, the average starting salary for new college graduates in health sciences is $51,541. The average starting salary for new college graduates in business is $53,901.† Assume that starting salaries are normally distributed and that the standard deviation for starting salaries for new college graduates in health sciences is $13,000. Assume that the standard deviation for starting salaries for new college graduates in business is $17,000. What is the probability that a...
2. A university placement director is interested in the effect GPA and the number of activities listed on the resume might have on the starting salaries of this year's graduation class. He has selected the data shown in cells S3 to U12 on the answers sheet for a sample of 12 graduates. Using these data, a. determine the multiple regression equation for starting salaries b. compute the estimated starting salary of Dave, a student with a 3.6 GPA and 3...
A study on salaries of recent graduates from a certain college are normally distributed with mean and standard deviation . Use the information to answer questions #1-6. You may use manual, technology, or table for computation, but you need to show work to justify your computation. 1. Suppose your starting salary is $55,000. a. determine the z-score b. interpret your z-score in terms of percentile (ranking) in the context of the population. 2. Find proportion for which the salary of...
According to the information obtained from a large university, professors there earned an average annual salary of $55,648 in 1998. A recent random sample of 15 professors from this university showed that they earn an average annual salary of $58,800 with a sample standard deviation of $8300. Assume that the annual salaries of all the professors in this university are normally distributed. (a) Suppose the probability of making a type I error is chosen to be zero. Without performing all...
QUESTION 11 The starting salaries of individuals with an MBA degree are normally distributed with a mean of $90,000 and a standard deviation of $20,000. What percentage of MBA's will have starting salaries of $77,000 to $99,000? 27.99% 42.07% 30.50% 41.58% QUESTION 12 The starting salaries of individuals with an MBA degree are normally distributed with a mean of $90,000 and a standard deviation of $20,000. Suppose we randomly select 9 of these individuals with an MBA degree. What is...
Q5. 20% An Economics department at a large university keeps track of its majors' starting salaries. Let SAL = salary in dollars, GPA = grade point average on a 4.0 scale, COURSE = 1 if student took econometrics, and 0 otherwise. The model is estimated using information on randomly sampled 50 graduates (standard errors in parentheses): SAL=24200 + 1643 GPA +5033 COURSE, R2 = 0.74. (1078) (352) (456) The errors are assumed to be normally distributed and homoskedastic. (a) What...
(b) According to the article, “The growing ranks of unemployed graduates are worrying the authorities”. What does this suggest about the relative size of the labour demand and labour supply shocks? IDLE HANDS;SKILLED BUT JOBLESS article THRONGS OF YOUNG people roam around the makeshift booths in an exhibition hall in northern Beijing. They are at a job fair organised by the municipal government, aimed at unemployed college graduates. Like most jobseekers in attendance, Su Jian has brought along a stack...
Budgeting for an Academic Department at a State University: Can You Believe the Numbers? INTRODUCTION You are the senior accounting faculty member in the business school and your dean, Dean Weller, is asking for help. She is very discouraged after a midyear budget meeting with the Vice President of Finance. The college's Department of Social Work has a large budget deficit, and because of this the VP is inclined towards closing the department entirely or closing its bachelor's program. The...