Question

Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $128,000. Assume the standard deviation is $43,000. Suppose you take a simple random sample of 15 graduates. Round all answers to four decimal places if necessary.

1. What is the distribution of XX? XX ~ N(,)
2. What is the distribution of ¯¯¯XX¯? ¯¯¯XX¯ ~ N(,)
3. For a single randomly selected graduate, find the probability that her salary is between $119,846 and $126,097.
4. For a simple random sample of 15 graduates, find the probability that the average salary is between $119,846 and $126,097.
5. For part d), is the assumption of normal necessary? NoYes

Answer 1

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