Business Weekly conducted a survey of graduates from several top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $180,000. Assume the standard deviation is $44,000. Suppose you take a simple random sample of 18 graduates. What is the standard deviation of distribution of XX? What is the standard deviation of ¯¯¯XX¯? For a single randomly selected graduate, find the probability that her salary is between $172,544 and $185,129. For a simple random sample of 18 graduates, find the probability that the average salary is between $172,544 and $185,129. For part d), is the assumption of normal necessary?

Business Weekly conducted a survey of graduates from several top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $180,000. Assume the standard deviation is $44,000. Suppose you take a simple random sample of 18 graduates. What is the standard deviation of distribution of XX? What is the standard deviation of ¯¯¯XX¯? For a single randomly selected graduate, find the probability that her salary is between $172,544 and $185,129. For a simple random sample of 18 graduates, find the probability that the average salary is between $172,544 and $185,129. For part d), is the assumption of normal necessary?

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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