According to the Advertising Age, the average base salary for men at middle management positions are higher than the average base salary for women. The average base salary for men is $67,000 and the average base salary for women is $65,500. Assume salaries are normally distributed and that the standard deviation is $7000 for both men and women. What is the probability that a man receiving a salary in excess of $75,000? What is the probability that a woman receiving a salary in excess of $75,000?How much would a woman have to make to have a higher salary than 95% of her male counterparts?A random sample of 100 women is selected and their average salary is $65,123. What conclusion can you make?

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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 the Advertising Age, the average base salary for men at middle management positions are higher than the average base salary for women. The average base salary for men is $67,000 and the average base salary for women is $65,500. Assume salaries are normally distributed and that the standard deviation is $7000 for both men and women.

What is the probability that a man receiving a salary in excess of $75,000?
What is the probability that a woman receiving a salary in excess of $75,000?
How much would a woman have to make to have a higher salary than 95% of her male counterparts?
A random sample of 100 women is selected and their average salary is $65,123. What conclusion can you make?

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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