You may need to use the appropriate appendix table or technology to answer this question.The Economic Policy Institute periodically issues reports on workers' wages. Suppose the institute reported that mean wages for male college graduates were $37.39 per hour and forfemale college graduates were $27.83 per hour in 2017. Assume the standard deviation for male graduates is $4.60 and for female graduates it is $4.10. (Round your answers to fourdecimal places.)(a) What is the probability that a sample of 60 male graduates will provide a sample mean within $1.00 of the population mean, $37.39?(b) What is the probability that a sample of 60 female graduates will provide a sample mean within $1.00 of the population mean, $27.83?(c) In which of the preceding two cases, part (a) or part (b), do we have a higher probability of obtaining a sample estimate within $1.00 of the population mean? Why?O part (b), because the standard error is lowerO part (a), because the standard error is higherO part (a), because the standard error is lowerO part (b), because the standard error is higher(d) Calculate the amount that is $0.60 less than the population mean of $27.83. What is the probability that a sample of 130 female graduates will provide a sample mean less thanthis amount?

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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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