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The mean annual starting salary of college graduates who have completed a three-year diploma is $67,500 with a standard deviation of $3,700. A random sample of 40 graduates is selected. a) Calculate the mean and standard deviation of this sampling distribution of the sample mean. b) Calculate the probability that the sample mean income is more than $68,250. c) Calculate the probability that the sample mean income is between than $68,000 and $68,500.

The mean annual starting salary of college graduates who have completed a three-year diploma is $67,500 with a standard deviation of $3,700. A random sample of 40 graduates is selected. a) Calculate the mean and standard deviation of this sampling distribution of the sample mean. b) Calculate the probability that the sample mean income is more than $68,250. c) Calculate the probability that the sample mean income is between than $68,000 and $68,500.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
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
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The mean annual starting salary of college graduates who have completed a three-year diploma is $67,500 with a standard deviation of $3,700. A random sample of 40 graduates is selected. a) Calculate the mean and standard deviation of this sampling distribution of the sample mean. b) Calculate the probability that the sample mean income is more than $68,250. c) Calculate the probability that the sample mean income is between than $68,000 and $68,500.
Transcribed Image Text:The mean annual starting salary of college graduates who have completed a three-year diploma is $67,500 with a standard deviation of $3,700. A random sample of 40 graduates is selected. a) Calculate the mean and standard deviation of this sampling distribution of the sample mean. b) Calculate the probability that the sample mean income is more than $68,250. c) Calculate the probability that the sample mean income is between than $68,000 and $68,500.
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