Using the standard normal to compute probabilities for the normal The average st

Question

Using the standard normal to compute probabilities for the normal The average starting salary offer for management majors who graduated in 2007 was $43, 256. [Source: National Association of Colleges and Employers, Salary Survey, F a 2007.] Assume that x, the starting salary offer for management majors in the class of ro7, is normally distributed with a mean of $43, 256 and a standard deviation of $3, 150. Use the following Distributions tool to help you answer the questions. The probability that a randomly selected management major from the class of o7 received a starting salary offer greater than $42,000 is 0.6554. The probability that a randomly selected management major received a starting salary offer between $42,000 and $48.600 is 0.9821. what percentage of management majors received a starting offer between $36.000 and $42,0007 97.13% 33.39 % 66.61% 2.87% Twenty percent of management majors were offered a starting salary less than.

Explanation / Answer

here mean =43256

and std deviation =3150

from normal distribution Z =(X-mean)/std deviation

1)hence probabilty that salary offer greater then 42000 =P(X>42000) =1-P(X<42000) =1-P(Z<(42000-43256)/3150)

=1-P(Z<-0.3987) =1-0.3450 =0.6550

2)P(42000<X<48600) =P((42000-43256)/3150<Z<(48600-43256)/3150)=P(-0.3987<Z<1.6965) =0.9551 -0.345 =0.6101

3) P(36000<X<42000) =P((36000-43256)/3150<Z<(42000-43256)/3150) =P(-2.603<Z<-0.3987) =0.3450-0.0106

=0.3344

therefore option 33.39% is correct.

Related Questions

Navigate

• Browse (All)
• Browse U
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.