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Hi, please answer all the parts in the question and show the work. Thank you. 1. There are 180 car salesmen in a city. Their
Hi, please answer all the parts in the question and show the work. Thank you.
1. There are 180 car salesmen in a city. Their annual salaries are normally distributed with a mean of $41,500, and a standard deviation of $17,000. A. What is the probability that a randomly selected car salesman from this city, earns more than $60,000? Find the Z-score first (rounded to 2 decimal places.) Z= Probability (rounded to 4 decimal places): B. What is the value of the annual salary if 20 % of the car salesmen earn higher than that value? C. What is the probability that the mean salary of 8 randomly selected car salesmen from this city, is less than $60,000? Use the standard deviation (standard error of the mean) of an infinite population. Find the Z-score first (rounded to 2 decimal places.) Z= Probability (rounded to 4 decimal places): D. Consider the sampling distribution of the means using the car salesmen's salaries again. Each sample has 8 salesmen's salaries. What would be the value of the standard deviation (standard error) of the sampling distribution of the means if we assume that the population is finite (rounded to 2 decimal places)? E. According to a Pew Research Center nationwide survey of American adults, 75% of adults said that college education has become too expensive for most people, and they cannot afford it. Let pbe the proportion in a random sample of 1400 adult Americans who will hold the said opinion. Find the probability that the sample proportion is within plus or minus .03 of the actual population proportion. a. First check the requirements to use the normal distribution. b. Find op (the standard error of the sampling distribution.) c. the Z-scores (rounded to 2 decimal places.) d. Find the probability. 1. There are 180 car salesmen in a city. Their annual salaries are normally distributed with a mean of $41,500, and a standard deviation of $17,000. A. What is the probability that a randomly selected car salesman from this city, earns more than $60,000? Find the Z-score first (rounded to 2 decimal places.) Z= Probability (rounded to 4 decimal places): B. What is the value of the annual salary if 20 % of the car salesmen earn higher than that value? C. What is the probability that the mean salary of 8 randomly selected car salesmen from this city, is less than $60,000? Use the standard deviation (standard error of the mean) of an infinite population. Find the Z-score first (rounded to 2 decimal places.) Z= Probability (rounded to 4 decimal places): D. Consider the sampling distribution of the means using the car salesmen's salaries again. Each sample has 8 salesmen's salaries. What would be the value of the standard deviation (standard error) of the sampling distribution of the means if we assume that the population is finite (rounded to 2 decimal places)? E. According to a Pew Research Center nationwide survey of American adults, 75% of adults said that college education has become too expensive for most people, and they cannot afford it. Let pbe the proportion in a random sample of 1400 adult Americans who will hold the said opinion. Find the probability that the sample proportion is within plus or minus .03 of the actual population proportion. a. First check the requirements to use the normal distribution. b. Find op (the standard error of the sampling distribution.) c. the Z-scores (rounded to 2 decimal places.) d. Find the probabilityStep by Step Solution
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