To interpret his finding, he needs to calculate the probability that a sample of 25 graduates would have a mean of $750 or less when the population mean is $800 and the standard deviation is $100. After finding the probability, he concludes that Dean's claim is correct because the chance of getting 770 or below is 50% Dean's claim is correct because the chance of getting 750 or below is 15.XX% Dean's claim is correct because the chance of getting 800 or below is 93.XX% Dean's claim is incorrect because the chance of getting 770 or above is 50%
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In the advertisements for a large university, the dean of the School of Business claims that the average salary of the school’s graduates one year after graduation is $770 per week with a standard deviation of $100.
A second-year student in the business school who has just completed his statistics course would like to check whether the claim about the mean is correct.
He does a survey of 25 people who graduated one year ago and determines their weekly salary.
He discovers the sample mean to be $750.
To interpret his finding, he needs to calculate the
probability that a sample of 25 graduates would have a mean of $750 or less when the population mean is $800 and the standard deviation is $100.After finding the probability, he concludes that
Dean's claim is correct because the chance of getting 770 or below is 50%
Dean's claim is correct because the chance of getting 750 or below is 15.XX%
Dean's claim is correct because the chance of getting 800 or below is 93.XX%
Dean's claim is incorrect because the chance of getting 770 or above is 50%
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