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 3 years ago
Next > < Previous

Related Solutions

The starting salaries of individuals with an MBA degree are normally distributed with a mean of...
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 probability that the average starting salary for these individuals is at least $85,800? 0.7995 0.9131 0.2005 -0.2611
The starting salaries of people employed at the Calgary 1988 Winter Games is normally distributed with...
The starting salaries of people employed at the Calgary 1988 Winter Games is normally distributed with a mean of $6,000 and a standard deviation of $450 what is the probability that a randomly-selected person will get a starting salary of at least $5,000. Possible Answers: 0.987 or 0.500 or 0.495 or 0.130 The probability that residents own two cars if annual household income is over $50,000 is 80%. of the households surveyed 60% had income over $50,000 and 70% had...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $44,000 and a standard deviation of $6,500. We randomly survey ten teachers from that district. 1.Find the probability that the teachers earn a total of over $400,000 2.If we surveyed 70 teachers instead of ten, graphically, how would that change the distribution in part d? 3.If each of the 70 teachers received a $3,000 raise, graphically, how would that change the distribution in part...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $44,000 and a standard deviation of $6,500. We randomly survey ten teachers from that district. Find the 85th percentile for the sum of the sampled teacher's salaries to 2 decimal places.
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $41,000 and a standard deviation of $6,100. We randomly survey ten teachers from that district. A. Give the distribution of ΣX. (Round your answers to two decimal places.) ΣX - N ( , ) B. Find the probability that the teachers earn a total of over $400,000. (Round your answer to four decimal places.) C. Find the 80th percentile for an individual teacher's salary....
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $46,000 and a standard deviation of $4,900. We randomly survey ten teachers from that district. (Round your answers to the nearest dollar.) (a) Find the 90th percentile for an individual teacher's salary. (b) Find the 90th percentile for the average teacher's salary.
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $46,000 and a standard deviation of $4,500. We randomly survey ten teachers from that district. (Round your answers to the nearest dollar.) A) Find the 90th percentile for an individual teacher's salary. B)Find the 90th percentile for the average teacher's salary.
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $42,000 and a standard deviation of $5,700. We randomly survey ten teachers from that district. (Round your answers to the nearest dollar.) (a) Find the 90th percentile for an individual teacher's salary. $ = (b) Find the 90th percentile for the average teacher's salary. $ =
Salaries for teachers in a particular elementary school district are normally distributed with a mean of...
Salaries for teachers in a particular elementary school district are normally distributed with a mean of $44,000 and a standard deviation of $6,300. We randomly survey ten teachers from that district. (Round your answers to the nearest dollar.) (a) Find the 90th percentile for an individual teacher's salary. (b) Find the 90th percentile for the average teacher's salary. A typical adult has an average IQ score of 105 with a standard deviation of 20. If 19 randomly selected adults are...
Suppose that GMAT scores of all MBA students in Canada are normally distributed with a mean...
Suppose that GMAT scores of all MBA students in Canada are normally distributed with a mean of 550 and a standard deviation of 120. a. A university (that is representative of the MBA students in the U.S.) claims that the average GMAT scores of students in its MBA program are at least 550. You take a sample of 121 students in the university and find their mean GMAT score is 530. Can you still support the University’s claim? Test at...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT