The economic downturn after the financial crisis early in the current century affected all salaried employees, certainly
Question:
a. Assuming that the standard deviation of the salary and bonus for new MBAs was $20,000, calculate the probability that a randomly selected sample of size 5,829 graduates would yield a sample mean of at most $88,626 if the population mean equaled $92,500.
b. Assuming the distribution of salaries was normal with a mean of $92,500, determine the probability that at least half of 5 MBA graduates would get annual base salaries of at least $92,500.
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Related Book For
Business Statistics A Decision Making Approach
ISBN: 9780133021844
9th Edition
Authors: David F. Groebner, Patrick W. Shannon, Phillip C. Fry
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