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Author Question: The average starting salary of this years graduates of a large university (LU) is $20,000 with a ... (Read 85 times)

Bobvance

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on: Mar 25, 2023

The average starting salary of this year’s graduates of a large university (LU) is $20,000 with a standard deviation of $8,000.  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 $30,400?
b.Individuals with starting salaries of less than $15,600 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 189 of the recent graduates have salaries of at least $32,240, 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 Bobvance on Mar 25, 2023

Jim457

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Reply #1 on: Mar 25, 2023
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Bobvance

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Reply 2 on: Mar 25, 2023
Great answer, keep it coming :)

olderstudent

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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