Question
1)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
1)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 147000 dollars. Assume the standard deviation is 40000 dollars and that the population is normally distributed.
Find the probability that a single randomly selected salary has a mean value between 150753.3 and 161179 dollars. P(150753.3 < X < 161179) = (Enter your answers as numbers accurate to 4 decimal places.) Find the probability that a random sample of size n=92n=92 has a mean value between 150753.3 and 161179 dollars. P(150753.3 < xx < 161179) =
2)According to a 2009 Reader's Digest article, people throw away approximately 19% of what they buy at the grocery store. Assume this is the true proportion and you plan to randomly survey 248 grocery shoppers to investigate their behavior. What is the probability that the sample proportion is between 0.06 and 0.15? Note: You should carefully round any intermediate values you calculate to 4 decimal places to match wamap's approach and calculations. Answer =
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