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 $126,000. Assume the standard deviation is $31,000. Suppose you take a simple random sample of 40 graduates. Round all answers to four decimal places if necessary.What is the distribution of �? � ~ N(,)What is the distribution of �¯? �¯ ~ N(,)For a single randomly selected graduate, find the probability that her salary is between $119,648 and $123,199. For a simple random sample of 40 graduates, find the probability that the average salary is between $119,648 and $123,199. For part d), is the assumption of normal necessary? YesNo

The objective of the question is to understand the distribution of the salaries of MBA graduates and…

Answered: Business Weekly conducted a survey of…

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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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 $126,000. Assume the standard deviation is $31,000. Suppose you take a simple random sample of 40 graduates. Round all answers to four decimal places if necessary.

What is the distribution of �? � ~ N(,)
What is the distribution of �¯? �¯ ~ N(,)
For a single randomly selected graduate, find the probability that her salary is between $119,648 and $123,199.
For a simple random sample of 40 graduates, find the probability that the average salary is between $119,648 and $123,199.
For part d), is the assumption of normal necessary? YesNo

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