The Economic Policy Institute periodically issues reports on worker's wages. The institute reported that mean wages for male college graduates were $37.29 per hour and for female college graduates were $27.83 per hour in . Assume the standard deviation for male graduates is $4.60 , and for female graduates it is $4.10 . Use z-table. Round your answers to four decimal places. a. What is the probability that a sample of 50 male graduates will provide a sample mean within $1.00 of the population mean, $37.29? b. What is the probability that a sample of 50 female graduates will provide a sample mean within$1.00 of the population mean,$27.83 ?
The Economic Policy Institute periodically issues reports on worker's wages. The institute reported that
Round your answers to four decimal places.
a. What is the probability that a sample of 50 male graduates will provide a sample mean within $1.00 of the population mean, $37.29?
b. What is the probability that a sample of 50 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 of the population mean? part a or b
Why?
Because the standard error for female graduates is equal to, greater than or smaller than the standard error for male graduates
d. What is the probability that a sample of 50 female graduates will provide a sample mean more than $0.60 below the population mean,$27.83 ?
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