Based on a sample of 80 recent Masters graduates (40 male and 40 female), the following information was made available regarding their annual salaries. The standard deviation of salaries for the male graduates was $40,000 and that for the female graduates was $25,000. (a) For the male graduates, what is the probability of obtaining a sample mean salary within $10,000 of the population mean? b) Consider the same question in (a) but for the female graduates. In which case, males or females, do we have a higher probability of obtaining a sample estimate within $10,000 of the population mean? Why? (c) Suppose that the sample mean salary of females is $125,000. Develop a 95% confidence interval estimate for the mean salary of all female graduates

Based on a sample of 80 recent Masters graduates (40 male and 40 female), the following information was made available regarding their annual salaries. The standard deviation of salaries for the male graduates was $40,000 and that for the female graduates was $25,000. (a) For the male graduates, what is the probability of obtaining a sample mean salary within $10,000 of the population mean? b) Consider the same question in (a) but for the female graduates. In which case, males or females, do we have a higher probability of obtaining a sample estimate within $10,000 of the population mean? Why? (c) Suppose that the sample mean salary of females is $125,000. Develop a 95% confidence interval estimate for the mean salary of all female graduates

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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