College Graduate-Level Wages. The Economic Policy Institute periodically issues reports on worker’s wages. The institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates were $27.83 per hour in 2017. Assume the standard deviation for male graduates is $4.60, and for female graduates it is $4.10. a. What is the probability that a sample of 50 male graduates will provide a sample mean within $1.00 of the population mean, $37.39? b. What is the probability that a sample of 50 female graduates will provide a sample mean within $1.00 of the population mean, $27.83? c. In which of the preceding two cases, Part 1 or Part 2, do we have a higher probability of obtaining a sample estimate within $1.00 of the population mean? Why? d. What is the probability that a sample of 120 female graduates will provide a sample mean more than $.60 below the population mean, 27.83?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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College Graduate-Level Wages. The Economic Policy Institute periodically issues reports on worker’s wages. The institute reported that mean wages for male college graduates were $37.39 per hour and for female college graduates were $27.83 per hour in 2017. Assume the standard deviation for male graduates is $4.60, and for female graduates it is $4.10.

a. What is the probability that a sample of 50 male graduates will provide a sample mean within $1.00 of the population mean, $37.39?

b. What is the probability that a sample of 50 female graduates will provide a sample mean within $1.00 of the population mean, $27.83?

c. In which of the preceding two cases, Part 1 or Part 2, do we have a higher probability of obtaining a sample estimate within $1.00 of the population mean? Why?

d. What is the probability that a sample of 120 female graduates will provide a sample mean more than $.60 below the population mean, 27.83?

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