The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported that extry level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011. Assume the standard deviation for male graduates is $2.30, and for female graduates it is $2.05.

Part A

What is the probability that a simple of 50 male graduates will provide a sample mean within $0.50 of the population mean, $21.68?

Part B

What is the probability that a simple 50 female graduates will provide a sample mean within $0.50 of the population mean, $18.80?

Part 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 $0.50 of the population mean? Why?

Part D

What is the probability that a simple random sample of 120 female graduates will provide a sample mean more than $0.30 below the population mean?

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