Business Weekly conducted a survey of recent graduates from the top MBA programs. On the basis of the survey, assume that 80% of the recent graduates annual salary exceeds $45000. Suppose you take a simple random sample of 66 recent graduates. Note: round all z scores to 2 decimal places and all other numbers to 4 decimal places. Find the probability that more than 90% of the 66 recent graduates have an annual salary exceeding $45000. Beyond representative sampling, what assumptions are needed to satisfy the requirements for this problem? X~binomial and at least 5 successes and failures X~normal and n≥30n≥30 X~normal or n≥30n≥30 X~binomial and both npnp and nqnq at least 5
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Business Weekly conducted a survey of recent graduates from the top MBA programs. On the basis of the survey, assume that 80% of the recent graduates annual salary exceeds $45000. Suppose you take a simple random sample of 66 recent graduates.
Note: round all z scores to 2 decimal places and all other numbers to 4 decimal places.
Find the probability that more than 90% of the 66 recent graduates have an annual salary exceeding $45000.
Beyond representative sampling, what assumptions are needed to satisfy the requirements for this problem?
- X~binomial and at least 5 successes and failures
- X~normal and n≥30n≥30
- X~normal or n≥30n≥30
- X~binomial and both npnp and nqnq at least 5
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