Question

The Economic Policy Institute periodically issues reports on workers' wages. Suppose the institute reported that mean...

The Economic Policy Institute periodically issues reports on workers' wages. Suppose the institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates were $27.83 per hour in 2017. Assume the standard deviation for male graduates is $4.60 and for female graduates it is $4.10. (Round your answers to four decimal places.)

(a) What is the probability that a sample of 70 male graduates will provide a sample mean within $1.00 of the population mean, $37.39?

(b) What is the probability that a sample of 70 female graduates will provide a sample mean within $1.00 of the population mean, $27.83?

(c) In which of the preceding two cases, part (a) or part (b), do we have a higher probability of obtaining a sample estimate within $1.00 of the population mean? Why?

(d) What is the probability that a sample of 140 female graduates will provide a sample mean more than $0.60 below the population mean, $27.83?

0 0
Add a comment Improve this question Transcribed image text
✔ Recommended Answer
Answer #1

Salubion: Im39.39 4.60 21.83 YA 4.1 - 1 4-60 70 4.60 O.9312 b) 4.) 2-04 72 D.0 4) O.9586 Pord iby has the higher paobabiliy,

Add a comment
Know the answer?
Add Answer to:
The Economic Policy Institute periodically issues reports on workers' wages. Suppose the institute reported that mean...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Similar Homework Help Questions
  • The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported...

    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. a. What is the probability that a sample of 50 male graduates will provide a sample mean within...

  • The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that...

    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. What is the probability that a sample of 50 male graduates will provide a sample mean within $.50 of the...

  • You may need to use the appropriate appendix table or technology to answer this question. The...

    You may need to use the appropriate appendix table or technology to answer this question. The Economic Policy Institute periodically issues reports on workers' wages. Suppose the institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates were $27.83 per hour in 2017. Assume the standard deviation for male graduates is $4.60 and for female graduates it is $4.10. (Round your answers to four decimal places.) (a) What is the probability that...

  • The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that...

    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...

  • Hello, can you provide me the answers for 1,2, and 3 questions. Please use 4 decimal...

    Hello, can you provide me the answers for 1,2, and 3 questions. Please use 4 decimal numbers for the answers. Also, can you provide me the purple cells? Thank you!! Will rate!! 17% of individuals insured by All-Driver Automobile Insurance Company have received at least one traffic ticket. (See exercise 53 on page 343 of your textbook for a similar problem.) Question 1 For a sample of 135 insured individuals, what is the probability that between 18 and 28 of...

  • The College Board reported the following mean scores for the three parts of the SAT (The...

    The College Board reported the following mean scores for the three parts of the SAT (The World Almanac, 2009): Critical Reading 502 Mathematics 515 Writing 494 Assume that the population standard deviation on each part of the test is σ = 100. What is the probability a sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 502 on the Critical Reading part of the test? (Round to four decimal...

  • The College Board reported the following mean scores for the three parts of the Scholastic Aptitude...

    The College Board reported the following mean scores for the three parts of the Scholastic Aptitude Test (SAT) (The World Almanac, 2009): Critical Reading 502 Mathematics515 Writing 494 Assume that the population standard deviation on each part of the test is 10 a) What is the probability a sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 502 on the Critical Reading part of the test? b) What is...

  • The College Board reported the following mean scores for the three parts of the SAT (The...

    The College Board reported the following mean scores for the three parts of the SAT (The World Aimanac, 2009): Excel File: data07-21.xls Critical Reading Mathematics Writing 502 515 494 Assume that the population standard deviation on each part of the test is ?-100. a. What is the probability that a random sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 502 on the Critical Reading part of the test?...

  • The College Board reported the following mean scores for the three parts of the Scholastic Aptitude...

    The College Board reported the following mean scores for the three parts of the Scholastic Aptitude Test (SAT) (The World Almanac, 2009) 502 Critical Reading Mathematics Writing 515 494 Assume that the population standard deviation on each part of the test is 100 a. What is the probability a sample of 90 test takers will provide a sample mean test score within 10 points of the population mean of 502 on the Critical Reading part of the test (to 4...

  • Please provide answers according to question numbers thank you. STAT 160-991 Assignment 1 (based on Handouts...

    Please provide answers according to question numbers thank you. STAT 160-991 Assignment 1 (based on Handouts 1 - 8) (1) Which of the following statements applies to this set of data values: 17, 15, 16, 14, 17 18, and 22? (a) The mean, median, and mode are all equal. b) Only the mean and median are equal. (c) Only the mean and mode are equal. (d) Only the median and mode are equal (2) A sample of students who have...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT