Answered: Suppose that the starting salaries 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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Suppose that the starting salaries of MBAs at Wilfrid Laurier University (WLU) are normally distributed with a mean of $62,000 and a standard deviation of $14,500. The starting salaries of MBAs at the university of Western Ontario (UWO) are normally distributed with a mean of $60,000 and a standard deviation of $18,300. If a random sample of 50 WLU MBAs and a random sample of 60 UWO MBAs are selected, what is the probability that the sample mean starting salary of WLU graduates will exceed that of UWO graduates?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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