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Author Question: The average starting salary of this years graduates of a large university (LU) is $25,000 with a ... (Read 30 times)

Tiffanyanne824

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on: Mar 25, 2023

Question 1

The average starting salary of this year's MBA students is $35,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed. What are the minimum and the maximum starting salaries of the middle 95% of MBA graduates?



Question 2

The average starting salary of this year’s graduates of a large university (LU) is $25,000 with a standard deviation of $5,000.  Furthermore, it is known that the starting salaries are normally distributed.

a.What is the probability that a randomly selected LU graduate will have a starting salary of at least $31,000?
b.Individuals with starting salaries of less than $12,200 receive a low income tax break.  What percentage of the graduates will receive the tax break?
c.What are the minimum and the maximum starting salaries of the middle 95% of the LU graduates?
d.If 68 of the recent graduates have salaries of at least $35,600, how many students graduated this year from this university?

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by Tiffanyanne824 on Mar 25, 2023

3ginamay

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Reply #1 on: Mar 25, 2023
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Tiffanyanne824

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Reply 2 on: Mar 25, 2023
Excellent

ghepp

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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