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The Economic Policy Institute periodically issues reports on wages of entry level workers. The Institute reported that entry level wages for male college graduates were
The Economic Policy Institute periodically issues reports on wages of entry level workers. The Institute reported that entry level wages for male college graduates were $21.68 per hour and forfemale college graduates were $18.88 per hour in 2811 (Economic Policy Institute website, March 38, 2812). Assume the standard deviation for male graduates is $2.38, and for female graduates it is $2.85. Round your answers to four decimal places. a. What is the probability that a sample of 58 male graduates will provide a sample mean within $.58 of the population mean, $21.68? b. What is the probability that a sample of 58 female graduates will provide a sample mean within $.58 of the population mean, $18.88? c. In which of the preceding two cases, part (a) or part (b), do we have a higher probability of obtaining a sample estimate within $.58 of the population mean? - Select your answer - v Do we have a higher probability of obtaining a sample estimate within $.58 of the population mean? - Select your answer - V Why? Because the standard error for female graduates is -Selectyouranswer- V the standard errorfor male graduates d. What is the probability that a sample of 128 female graduates will provide a sample mean more than $.38 below the population mean
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