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 $167,000. Assume the standard deviation is $34,000. Suppose you take a simple random sample of 13 graduates. Round all answers to four decimal places if necessary. a. What is the distribution of X? X ~ N( b. What is the distribution of x? ~ N( c. For a single randomly selected graduate, find the probability that her salary is between $162,555 and $175,070. d. For a simple random sample of 13 graduates, find the probability that the average salary is between $162,555 and $175,070. e. For part d), is the assumption of normal necessary? OYesONo

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
icon
Related questions
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 $167,000.
Assume the standard deviation is $34,000.
Suppose you take a simple random sample of 13
graduates. Round all answers to four decimal
places if necessary.
a. What is the distribution of X? X ~ N(
b. What is the distribution of x? ~ N(
c. For a single randomly selected graduate,
find the probability that her salary is
between $162,555 and $175,070.
d. For a simple random sample of 13
graduates, find the probability that the
average salary is between $162,555 and
$175,070.
e. For part d), is the assumption of normal
necessary? OYesONo
Transcribed Image Text: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 $167,000. Assume the standard deviation is $34,000. Suppose you take a simple random sample of 13 graduates. Round all answers to four decimal places if necessary. a. What is the distribution of X? X ~ N( b. What is the distribution of x? ~ N( c. For a single randomly selected graduate, find the probability that her salary is between $162,555 and $175,070. d. For a simple random sample of 13 graduates, find the probability that the average salary is between $162,555 and $175,070. e. For part d), is the assumption of normal necessary? OYesONo
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 4 images

Blurred answer
Recommended textbooks for you
Glencoe Algebra 1, Student Edition, 9780079039897…
Glencoe Algebra 1, Student Edition, 9780079039897…
Algebra
ISBN:
9780079039897
Author:
Carter
Publisher:
McGraw Hill