Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $183,000. Assume the standard leviation is $36,000. Suppose you take a simple random sample of 15 graduates. Round all answers to four Hecimal places if necessary. a. What is the distribution of X? X - N( b. What is the distribution of I? I ~ N( c. For a single randomly selected graduate, find the probability that her salary is between $176,057 and $182,005.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
**Business Weekly conducted a survey of graduates from 30 top MBA programs.** On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $183,000. Assume the standard deviation is $36,000. Suppose you take a simple random sample of 15 graduates. **Round all answers to four decimal places if necessary.**

a. What is the distribution of \(X? \quad X \sim N(\underline{\hspace{2cm}}, \underline{\hspace{2cm}})\)

b. What is the distribution of \(\bar{x}? \quad \bar{x} \sim N(\underline{\hspace{2cm}}, \underline{\hspace{2cm}})\)

c. For a single randomly selected graduate, find the probability that her salary is between $176,057 and $182,005. \(\underline{\hspace{2cm}}\)

d. For a simple random sample of 15 graduates, find the probability that the average salary is between $176,057 and $182,005. \(\underline{\hspace{2cm}}\)

e. For part d), is the assumption of normal necessary? \( \bigcirc\) Yes \( \bigcirc\) No
Transcribed Image Text:**Business Weekly conducted a survey of graduates from 30 top MBA programs.** On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $183,000. Assume the standard deviation is $36,000. Suppose you take a simple random sample of 15 graduates. **Round all answers to four decimal places if necessary.** a. What is the distribution of \(X? \quad X \sim N(\underline{\hspace{2cm}}, \underline{\hspace{2cm}})\) b. What is the distribution of \(\bar{x}? \quad \bar{x} \sim N(\underline{\hspace{2cm}}, \underline{\hspace{2cm}})\) c. For a single randomly selected graduate, find the probability that her salary is between $176,057 and $182,005. \(\underline{\hspace{2cm}}\) d. For a simple random sample of 15 graduates, find the probability that the average salary is between $176,057 and $182,005. \(\underline{\hspace{2cm}}\) e. For part d), is the assumption of normal necessary? \( \bigcirc\) Yes \( \bigcirc\) No
Expert Solution
steps

Step by step

Solved in 3 steps with 1 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman