The average starting salary for this year's graduates at a large university (LU) is $33,000 with a standard deviation of $6,000. Furthermore, it is known that the starting salaries are normally distributed. (You may need to use the appropriate appendix table or technology to answer this question.) (a) What is the probability that a randomly selected LU graduate will have a starting salary of at least $38,400? (Round your answer to four decimal places.) (b) Individuals with starting salaries of less than $19,600 receive a low income tax break. What percentage of the graduates will receive the tax break? (Round your answer to two decimal places.) % (c) What are the minimum and the maximum starting salaries (in dollars) of the middle 98% of the LU graduates? (Round your answers to the nearest dollar.) minimum $ maximum $

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The average starting salary for this year's graduates at a large university (LU) is $33,000 with a standard deviation of $6,000. Furthermore, it is known that the starting salaries are normally distributed. (You may need to use the appropriate
appendix table or technology to answer this question.)
(a) What is the probability that a randomly selected LU graduate will have a starting salary of at least $38,400? (Round your answer to four decimal places.)
(b) Individuals with starting salaries of less than $19,600 receive a low income tax break. What percentage of the graduates will receive the tax break? (Round your answer to two decimal places.)
%
(c) What are the minimum and the maximum starting salaries (in dollars) of the middle 98% of the LU graduates? (Round your answers to the nearest dollar.)
minimum
$
$
maximum
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Transcribed Image Text:The average starting salary for this year's graduates at a large university (LU) is $33,000 with a standard deviation of $6,000. Furthermore, it is known that the starting salaries are normally distributed. (You may need to use the appropriate appendix table or technology to answer this question.) (a) What is the probability that a randomly selected LU graduate will have a starting salary of at least $38,400? (Round your answer to four decimal places.) (b) Individuals with starting salaries of less than $19,600 receive a low income tax break. What percentage of the graduates will receive the tax break? (Round your answer to two decimal places.) % (c) What are the minimum and the maximum starting salaries (in dollars) of the middle 98% of the LU graduates? (Round your answers to the nearest dollar.) minimum $ $ maximum Need Help? Read It
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