Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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

image text in transcribed
image text in transcribed
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 $164,000. Assume the standard devlation is $44,000. Suppose you take a simple random sample of 18 graduates. Round all answers to four decimal places if necessary. a. What is the distribution of X? X - NO b. What is the distribution of ? 2 - N c. For a single randomly selected graduate, find the probability that her salary is between $150,944 and $165.629. d. For a simple random sample of 18 graduates, find the probability that the average salary is between $150.944 and 5165,629. e. For part d), is the assumption of normal necessary? O Yes No

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Statistics For Business And Economics

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams

11th Edition

978-0324783254, 324783256, 978-0324783247, 324783248, 978-0538481649

More Books

Students also viewed these Mathematics questions

Question

Define Decision making

Answered: 1 week ago

Question

What are the major social responsibilities of business managers ?

Answered: 1 week ago

Question

What are the skills of management ?

Answered: 1 week ago

Question

1. To gain knowledge about the way information is stored in memory.

Answered: 1 week ago