HomeworkLib
Question

The average starting salary for this year's graduates at a large university (LU) is $ 25...

The average starting salary for this year's graduates at a large university (LU) is $ 25 thousand with a standard deviation of $8 thousand. Furthermore, it is known that the starting salaries are normally distributed. What is the probability that a randomly selected LU graduate will have a starting salary of at least $ 21 thousand?

math   Statistics-And-Probability   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Solution :

Given ,

mean = = 25

standard deviation = = 8

P(x > 21) = 1 - P(x< 21)

= 1 - P[(x -) / < (21-25) /8 ]

= 1 - P(z < -0.5)

Using z table

= 1 - 0.3085

= 0.6915

probability= 0.6915

0 0
Add a comment
Know the answer?
Add Answer to:
The average starting salary for this year's graduates at a large university (LU) is $ 25...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

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

  • 2. The average starting salary for this year's graduates at a large university (LU) is $50,000...

    2. The average starting salary for this year's graduates at a large university (LU) is $50,000 with a standard deviation of $8,000. Furthermore, it is known that the starting salaries are normally distributed. a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $61,900? b. Individuals with starting salaries of less than $36,800 receive a low income tax break. What percentage of the graduates will receive the tax break?

  • 2. The average starting salary for this year's graduates at a large university (LU) is $50,000 wi...

    2. The average starting salary for this year's graduates at a large university (LU) is $50,000 with a standard deviation of $8,000. Furthermore, it is known that the starting salaries are normally distributed. a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $61,900? b. Individuals with starting salaries of less than $36,800 receive a low income tax break. What percentage of the graduates will receive the tax break? Please if...

  • The average starting salary of this year’s graduates of a large university (LU) is $55,000 with...

    The average starting salary of this year’s graduates of a large university (LU) is $55,000 with a standard deviation of $4,000. Furthermore, it is known that the starting salaries are normally distributed. What is the probability that a randomly selected LU graduate will have a starting salary of at least $52,700? Individuals with starting salaries of less than $45,00 receive a free class. What percentage of the graduates will receive the free class? What percent of graduates will have their...

  • The average starting salary of this year's vocational school graduates is $35,000 with a standard deviation...

    The average starting salary of this year's vocational school graduates is $35,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed. Below what starting salary does 5% of the graduates earn?

  • According to a National Association of Colleges and Employers, the average starting salary for new college...

    According to a National Association of Colleges and Employers, the average starting salary for new college graduates in health sciences is $51,541. The average starting salary for new college graduates in business is $53,901.† Assume that starting salaries are normally distributed and that the standard deviation for starting salaries for new college graduates in health sciences is $13,000. Assume that the standard deviation for starting salaries for new college graduates in business is $17,000. What is the probability that a...

  • The dean of a business school claims that the average starting salary of its graduates is...

    The dean of a business school claims that the average starting salary of its graduates is at least 60 (in £000’s). It is known that the population standard deviation is 10 (in £000’s). Sample data on the starting salaries of 64 randomly selected recent graduates yielded a mean of 62 (in £000's). What is the critical value for the rejection region if the level of significance is 5%? Select one: a. 1.80 b. 1.65 c. 1.85 d. 1.60 e. 2.00

  • According to the National Association of Colleges and Employers, the 2015 man starting salary for new...

    According to the National Association of Colleges and Employers, the 2015 man starting salary for new college - $51.541. The man 2015 stating for new colega grein business was $33,001. Asume that starting sales normally distributed and that the des $11.000. Assume that the standard deviation for starting lanes for new college graduates in business $17,000. c) What the probability that a new college graduate in business wil eam a starting salary of at least 567.000 (Round your name to...

  • 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...

  • The average starting salary for an MBA graduate in the class of 2018 was ​$112,000. Assume...

    The average starting salary for an MBA graduate in the class of 2018 was ​$112,000. Assume the population standard deviation for starting MBA salaries was ​$19,000. A random sample of 30 MBA graduates from the class of 2018 was selected. a. What is the probability that the sample mean is less than ​$119,000? b. What is the probability that the sample mean is more than ​$105,000​? c. What is the probability that the sample mean is between ​$112,000 and ​$119,000​?...

  • The average starting salary for an MBA graduate in the class of 2018 was $102,000. Assume...

    The average starting salary for an MBA graduate in the class of 2018 was $102,000. Assume the population standard deviation for starting MBA salaries was ​$16,000. A random sample of 35 MBA graduates from the class of 2018 was selected. a.What is the probability that the sample mean is less than $104,000​? b. What is the probability that the sample mean is more than $100,000​? c. What is the probability that the sample mean is between ​$102,000 and $104,000​? d....

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