The Economic Policy Institute reports that the average entry-level wage for male college graduates is $21.22 per hour and for female college graduates is $19.49 per hour. The standard devation for male graduates is $3.84 and for female graduates is $2.97. Assume wages are normally distributed. If 26 female graduates are chosen, what is the probability that the sample average entry-level wage is at least $20.34. (Round to four decimal points)
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The Economic Policy Institute reports that the average entry-level wage for male college graduates is $21.22 per hour and for female college graduates is $19.49 per hour. The standard devation for male graduates is $3.84 and for female graduates is $2.97. Assume wages are
If 26 female graduates are chosen, what is the
Solution:
Let X be the wages of female graduates.
From the given information, Y follows normal distribution with mean µ=$19.49 per hour and a standard deviation σ=$2.97.
Step by step
Solved in 2 steps with 1 images
