Question

In: Math

The Economic Policy Institute reports that the average entry-level wage for male college graduates is $22.07...

The Economic Policy Institute reports that the average entry-level wage for male college graduates is $22.07 per hour and for female college graduates is $19.85 per hour. The standard deviation for male graduates is $3.77 and for female graduates is $3.11. Assume wages are normally distributed. Question 1: If 25 females graduates are chosen, find the probability the sample average entry-level wage is at least $20.60.

Solutions

Expert Solution

The Economic Policy Institute reports that the average entry-level wage
for male college graduates is $22.07 per hour
for female college graduates is $19.85 per hour
The standard deviation for male graduates is $3.77 and for female graduates is $3.11.
Assume wages are normally distributed.
If 25 females graduates are chosen,

the PDF of normal distribution is = 1/σ * √2π * e ^ -(x-u)^2/ 2σ^2
standard normal distribution is a normal distribution with a,
mean of 0,
standard deviation of 1
equation of the normal curve is ( Z )= x - u / sd/sqrt(n) ~ N(0,1)
mean of the sampling distribution ( x ) = 19.85
standard Deviation ( sd )= 3.11/ Sqrt ( 25 ) =0.622
sample size (n) = 25

1.
the probability the sample average entry-level wage is at least $20.60.
P(X < 20.6) = (20.6-19.85)/3.11/ Sqrt ( 25 )
= 0.75/0.622= 1.2058
= P ( Z <1.2058) From Standard Normal Table
= 0.8861
P(X > = 20.6) = 1 - P(X < 20.6)
= 1 - 0.8861 = 0.1139

milcah answered 1 year ago
Next > < Previous

Related Solutions

The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that...
The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011 (Economic Policy Institute website, March 30, 2012). Assume the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. Assume all samples referenced below are simple random samples and large enough so that the central limit theorem applies but...
The Economic Policy Institute periodically issues reports on wages of entry level workers. The Institute reported...
The Economic Policy Institute periodically issues reports on wages of entry level workers. The Institute reported that entry level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011 (Economic Policy Institute website, March 30, 2012). Assume the standard deviation for male graduates is $2.30, and for female graduates it is $2.05 What is the probability that a sample of 50 male graduates will provide a sample mean within $.50...
The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported...
The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported that entry level wages for male college student graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2020. Assume the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. a. What is the probability that a sample of 50 male graduates will provide a sample mean within $.50 of the population mean, $21.68?...
The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that...
The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011. Assume that the standard deviation for male graduates is $2.30, and for female graduates, it is $2.05. (a) What is the sampling distribution of x for a random sample of 50 male college graduates? If required, round your answer to four decimal places....
The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported...
The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported that entry level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011.† Assume the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. (Round your answers to four decimal places.) 1. What is the probability that a sample of 60 male graduates will provide a sample mean within...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed to be approximately the same. A recruiting office thinks that the mean mechanical engineering salary is actually lower than the mean electrical engineering salary. The recruiting office randomly surveys 50 entry level mechanical engineers and 52 entry level electrical engineers. Their mean salaries were $46,300 and $46,800, respectively. Their standard deviations were $3440 and $4250, respectively. Conduct a hypothesis test at the 5% level...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed to be approximately the same. A recruiting office thinks that the mean mechanical engineering salary is actually lower than the mean electrical engineering salary. The recruiting office randomly surveys 40 entry level mechanical engineers and 50 entry level electrical engineers. Their mean salaries were $45,200 and $46,300, respectively. Their sample standard deviations were $3,880 and $4,190, respectively. Conduct a hypothesis test to determine if...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed to be approximately the same. A recruiting office thinks that the mean mechanical engineering salary is actually lower than the mean electrical engineering salary. The recruiting office randomly surveys 44 entry level mechanical engineers and 56 entry level electrical engineers. Their mean salaries were $46,400 and $46,900, respectively. Their standard deviations were $3420 and $4210, respectively. Conduct a hypothesis test at the 5% level...
1. Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are...
1. Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed to be approximately the same. A recruiting office thinks that the mean mechanical engineering salary is actually lower than the mean electrical engineering salary. The recruiting office randomly surveys 44 entry level mechanical engineers and 58 entry level electrical engineers. Their mean salaries were $46,300 and $46,900, respectively. Their standard deviations were $3420 and $4230, respectively. Conduct a hypothesis test at the 5%...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed...
Mean entry-level salaries for college graduates with mechanical engineering degrees and electrical engineering degrees are believed to be approximately the same. A recruiting office thinks that the mean mechanical engineering salary is actually lower than the mean electrical engineering salary. The recruiting office randomly surveys 42 entry level mechanical engineers and 58entry level electrical engineers. Their mean salaries were $46,300 and $46,800, respectively. Their standard deviations were $3440 and $4220, respectively. Conduct a hypothesis test at the 5% level to...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT