The mean salary is $60,000. What are the chances of you asking 36 randomly selected graduates...

The mean salary is $60,000. What are the chances of you asking 36 randomly selected graduates what their starting wages were and getting a sample mean of $57,000 or less. Assume the standard deviation was $10, 942

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Expert Solution

Solution :

Given that,

mean = = 60,000

standard deviation = =10942

n = 36

= 60,000

= / $\sqrt$ n = 10942 $\sqrt$ 36 = 1823.67

P( - < 57,000 )

P ( - /) < (57,000 - 60,000/ 1823.67)

P ( z < -3000 / 1823.67 )

P ( z < 1.64 )

=0.0505

Probability = 0.0505

orchestra answered 1 year ago

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