According to Forbes magazine, the 2023 average starting salary for new college graduates in humanities was $50,681 The average starting salary for new college graduates in engineering was $73,922 (Forbes.com website). Assume that starting salaries are normally distributed and that the standard deviation for starting salaries for new college graduates in humanities is $14,000 . Assume that the standard deviation for starting salaries for new college graduates in engineering is $19,000 . a. What is the probability that a new college graduate in engineering will earn a starting salary of at least $80,000 (to 4 decimals)? b. What is the probability that a new college graduate in humanities will earn a starting salary of at least 80,000 (to 4 decimals)? c. What is the probability that a new college graduate in humanities will earn a starting salary less than 50,000 (to 4 decimals)? d. How much would a new college graduate in engineering have to earn in order to have a starting salary higher than 99% of all starting salaries of new college graduates in humanities (to 0 decimal)? $ What percentage of engineering students are expected to earn a starting salary higher than 99% of all starting salaries of humanities graduates (to 2 decimals)?

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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According to Forbes magazine, the 2023 average starting salary for new college graduates in humanities was $50,681 The average starting salary for new college graduates in engineering was $73,922 (Forbes.com website). Assume that starting salaries are normally distributed and that the standard deviation for starting salaries for new college graduates in humanities is $14,000 . Assume that the standard deviation for starting salaries for new college graduates in engineering is $19,000 .

a. What is the probability that a new college graduate in engineering will earn a starting salary of at least $80,000 (to 4 decimals)?

b. What is the probability that a new college graduate in humanities will earn a starting salary of at least 80,000 (to 4 decimals)?

c. What is the probability that a new college graduate in humanities will earn a starting salary less than 50,000 (to 4 decimals)?

d. How much would a new college graduate in engineering have to earn in order to have a starting salary higher than 99% of all starting salaries of new college graduates in humanities (to 0 decimal)?

What percentage of engineering students are expected to earn a starting salary higher than 99% of all starting salaries of humanities graduates (to 2 decimals)?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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