Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

problem 10(want text answer only). The average starting salary for this year's graduates at a large university (LU) is $20,000 with a standard deviation of

image text in transcribed

problem 10(want text answer only). The average starting salary for this year's graduates at a large university (LU) is $20,000 with a standard deviation of $8,000. Furthermore, it is known that the starting salaries are normally distributed a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $30,400? (3 marks) b. What is the probability that a randomly selected LU graduate will have a salary of exactly $30,400? (2 marks) C. Individuals with starting salaries of less than $15600 receive a low income tax break. What percentage of the graduates will receive the tax break? (2 marks) d. If 189 of the recent graduates have salaries of at least $32240, how many students graduated this year from this university

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

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

What is job rotation ?

Answered: 1 week ago