Question

A study on salaries of recent graduates from a certain college are normally distributed with mean...

A study on salaries of recent graduates from a certain college are normally distributed with mean and standard deviation . Use the information to answer questions #1-6. You may use manual, technology, or table for computation, but you need to show work to justify your computation.
1. Suppose your starting salary is $55,000.
a. determine the z-score
b. interpret your z-score in terms of percentile (ranking) in the context of the population.
2. Find proportion for which the salary of recent graduates is between $35,000 and $50,000.
3. Which salary is the 98th percentile of recent graduates? In other words, which salary is the top
2% of the salaries of recent graduates?
4. What is the probability that a randomly chosen recent graduate has a salary greater than
$60,000?
5. Which salary has a z-score of 1.75?
6. Which salary has a z-score of -0.96?


The mean is $42,650 and Standard deviation is $3800
0 0
Add a comment Improve this question Transcribed image text
Answer #1

Answers

1.a 3.25 b) 99.94

2. 0.951

3. 50440

4. 0

5. 49300

6. 39002

Find Z-table and solutions attached

Sorry, but Chegg policy for multiple asked question/subparts is to only answer first four. Still, I have answered all the questions. If any doubt please feel free to ask through the comments section and if no doubt please give a like. Thank You

Add a comment
Know the answer?
Add Answer to:
A study on salaries of recent graduates from a certain college are normally distributed with mean...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • Suppose that the data concerning the first-year salaries of recent graduates is normally distributed with the...

    Suppose that the data concerning the first-year salaries of recent graduates is normally distributed with the population mean μ= $60000 and the population standard deviation σ = $15000. a. Find the probability of a randomly selected recent graduate earning less than $45000 annually. b. Find the probability of randomly selecting a recent graduate that makes more than $80000 a year, given the same normal distribution. c. Find the range of annual salaries of the top 15% earners, given the same...

  • 1. Suppose that the data concerning the first-year salaries of recent graduates is normally distributed with...

    1. Suppose that the data concerning the first-year salaries of recent graduates is normally distributed with the population mean -S60000 and the population standard deviation ơ S15000. (20 points) Find the probability of a randomly selected recent graduate earning less than $45000 annually Find the probability of randomly selecting a recent graduate that makes more than S80000 a year, given the same normal distribution. Find the range of annual salaries of the top 15% earners, given the same distribution of...

  • A survey reported that the mean starting salary for college graduates after a three-year program was...

    A survey reported that the mean starting salary for college graduates after a three-year program was $33,160.Assume that the distribution of starting salaries follows the normal distribution with a standard deviation of $4090. What percentage of the graduates have starting salaries: (Round z-score computation to 2 decimal places and the final answers to 4 decimal places.)   a. Between $32,500 and $38,600? Probability            b. More than $42,900? Probability            c. Between $38,600 and $42,900? Probability           

  • A survey reported that the mean starting salary for college graduates after a three-year program was...

    A survey reported that the mean starting salary for college graduates after a three-year program was $34,190.Assume that the distribution of starting salaries follows the normal distribution with a standard deviation of $3610. What percentage of the graduates have starting salaries: (Round z-score computation to 2 decimal places and the final answers to 4 decimal places.)   a. Between $31,400 and $37,600? Probability          b. More than $43,400? Probability          c. Between $37,600 and $43,400? Probability         

  • In a survey collecting data about the salaries earned by recent college graduates, Li found that...

    In a survey collecting data about the salaries earned by recent college graduates, Li found that her salary was in the 75th percentile. Should Li be pleased or upset by this result? Explain. (Enter your percents as whole numbers.) Li should (---Select--- be pleased not be pleased) because her salary is relatively (---Select--- high low) compared to other recent college graduates.___ % of recent college graduates earn less than Li does while ___% of recent college graduates earn more than...

  • Suppose that salaries for recent graduates of one university have a mean of $24,800 with a...

    Suppose that salaries for recent graduates of one university have a mean of $24,800 with a standard deviation of $1100. Using Chebyshev's Theorem, what is the minimum percentage of recent graduates who have salaries between $21,500 and $28,100?

  • The mean starting salary for college graduates in 2016 was $36,000. Assume that the distribution of...

    The mean starting salary for college graduates in 2016 was $36,000. Assume that the distribution of starting salaries follows the normal distribution with a standard deviation of $3,000. 1.What is the probability that a graduate will have a starting salary more than $43,500? 2. What is the probability that a graduate will have a starting salary between $42,000 and $43,500? 3. What is the probability that a graduate will have a starting salary between $30,000 and $45,000? 4. What starting...

  • 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 $49,000 and a standard deviation of $4,400. 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 $6,500. We randomly survey ten teachers from that district. Find the 90th percentile for an individual teacher’s salary. Find the 90th percentile for the average teacher’s salary.

  • Annual starting salaries for college graduates with degrees in business administration are generally expected to be...

    Annual starting salaries for college graduates with degrees in business administration are generally expected to be between $10,000 and $35,000. Assume that a 95% confidence interval estimate of the population mean annual starting salary is desired. a. What is the planning value for the population standard deviation? b. How large a sample should be taken if the desired margin of error is $400? Round your answer to next whole number. $230? $90?

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT