Question

In: Statistics and Probability

The starting salaries of individuals with an MBA degree are normally distributed with a mean of...

  1. 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 16 of these individuals with an MBA degree. What is the standard deviation of the average starting salary for these individuals?

    a.

    $4,000
    b.

    $5,000
    c.

    $20,000
    d.

    $1,666.67

Solutions

Expert Solution

standard deviation of average starting salary = population standard deviation / sqrt(n) = 20000 / sqrt(16) = 5000

Option-B) $5000

                                                                                                                                                                                                                                         

orchestra answered 2 years ago
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