The average starting salary of this year's graduates of a large university (LU) is $25,000 with a standard deviation of $5,000. Furthermore, it is known tha the starting salaries are normally distributed. μ= a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $31,000? (Round to four decimal places.) b. Individuals with starting salaries of less than $12,200 receive a low income tax break. What percentage of the graduates will receive the tax break? (Round to four decimal places.) Type the Probability Expression: Find the Solution:

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

all parts please

The average starting salary of this year's graduates of a large university (LU) is $25,000 with a standard deviation of $5,000. Furthermore, it is known that
the starting salaries are normally distributed.
μ=
a. What is the probability that a randomly selected LU graduate will have a starting salary of at least
$31,000? (Round to four decimal places.)
b. Individuals with starting salaries of less than $12,200 receive a low income tax break. What percentage
of the graduates will receive the tax break? (Round to four decimal places.)
c. 20% of the graduates earned at least what amount for a starting salary? (Round to two decimal places.)
d. What are the minimum and the maximum starting salaries of the middle 95% of the LU graduates?
(Round to two decimal places.)
Type the Probability Expression: Find the Solution:
X=
x1 =
x2 =
Transcribed Image Text:The average starting salary of this year's graduates of a large university (LU) is $25,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed. μ= a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $31,000? (Round to four decimal places.) b. Individuals with starting salaries of less than $12,200 receive a low income tax break. What percentage of the graduates will receive the tax break? (Round to four decimal places.) c. 20% of the graduates earned at least what amount for a starting salary? (Round to two decimal places.) d. What are the minimum and the maximum starting salaries of the middle 95% of the LU graduates? (Round to two decimal places.) Type the Probability Expression: Find the Solution: X= x1 = x2 =
Expert Solution
steps

Step by step

Solved in 3 steps with 9 images

Blurred answer
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