In: Statistics and Probability
A population of 40 year-old females has a mean salary of $39,321 with a standard deviation of $2,120. If a sample of 100 women is taken:
a) What is the probability their mean salaries will be less than $39,000?
b) What is the probability their mean salaries will be between $38000 and $39,000?
Solution :
Given that ,
= / n = 2120 / 100 = 212
a)
P( < $39000) = P(( - ) / < (39000 - 39321) / 212)
P(z < -1.51)
= 0.0655
Probability = 0.0655
b)
= P[(38000 - 39321) /212 < ( - ) / < (39000 - 39321) / 212)]
= P(-6.23 < Z < -1.51)
= P(Z < -1.51) - P(Z < -6.23)
= 0.0655 - 0
= 0.0655
Probability = 0.0655