Question
According to the National Association of Colleges and Employers, the 2015 mean starting salary for new college graduates in health sciences was $51,541. The mean
According to the National Association of Colleges and Employers, the 2015 mean starting salary for new college graduates in health sciences was $51,541. The mean 2015 starting salary for new college graduates in business was $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 $11,000. Assume that the standard deviation for starting salaries for new college graduates in business is $17,000.
(a)
What is the probability that a new college graduate in business will earn a starting salary of at least $69,000? (Round your answer to four decimal places.)
(b)
What is the probability that a new college graduate in health sciences will earn a starting salary of at least $69,000? (Round your answer to four decimal places.)
(c)
What is the probability that a new college graduate in health sciences will earn a starting salary less than $42,000? (Round your answer to four decimal places.)
(d)
How much would a new college graduate in business have to earn in dollars in order to have a starting salary higher than 99% of all starting salaries of new college graduates in the health sciences? (Round your answer to the nearest whole number.)
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