survey, assume that 75% of the recent graduates annual salary exceeds $80000. Suppose you take a simple random sample of 60 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 65% of the 60 recent graduates have an annual salary exceeding $80000. Beyond representative sampling, what assumptions are needed to satisfy the requirements for this problem? OX ~ normal and n > 30 OX ~ binomial and both np and nq at least 5 ~ binomial and at least 5 successes and failures ~ normal or n > 30

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 recent graduates from the top MBA programs. On the basis of the
survey, assume that 75% of the recent graduates annual salary exceeds $80000. Suppose you take a simple
random sample of 60 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 65% of the 60 recent graduates have an annual salary exceeding
$80000.
Beyond representative sampling, what assumptions are needed to satisfy the requirements for this
problem?
OX ~ normal and n > 30
OX~ binomial and both np and nq at least 5
OX ~ binomial and at least 5 successes and failures
OX
~ normal orn > 30
Transcribed Image Text:Business Weekly conducted a survey of recent graduates from the top MBA programs. On the basis of the survey, assume that 75% of the recent graduates annual salary exceeds $80000. Suppose you take a simple random sample of 60 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 65% of the 60 recent graduates have an annual salary exceeding $80000. Beyond representative sampling, what assumptions are needed to satisfy the requirements for this problem? OX ~ normal and n > 30 OX~ binomial and both np and nq at least 5 OX ~ binomial and at least 5 successes and failures OX ~ normal orn > 30
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 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