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The average starting salary of this year's graduates of a large university (LU) is $62,000 with a standard deviation of $5,000. Furthermore, it is known
The average starting salary of this year's graduates of a large university (LU) is $62,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed.
- What is the probability that a randomly selected LU graduate will have a starting salary of at least $70,000?
- Individuals with starting salaries of less than $49,000 receive a free class. What percentage of the graduates will receive the free class?
- What percent of graduates will have their salaries one standard deviation from the mean?
- What is the range of salaries that are one standard deviation from the mean?
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