A career counselor is interested in examining the salaries earned by graduate business school students at the end of the first year after graduation

For a random sample of 17 recent business school graduates beginning their first job, the mean...

For a random sample of 17 recent business school graduates beginning their first job, the mean starting salary was found to be $43,500, and the sample standard deviation was $8,500. Assuming the population is normally distributed, calculate the lower confidence limit (LCL) of the population mean with α = 0.10.

Salary data from two random samples of high school teachers are shown to the right. Also...

Salary data from two random samples of high school teachers are shown to the right. Also shown are the population standard deviations. Construct a 90% confidence interval to estimate the difference in the average salaries of the high school teachers in these two states. b. Based on the results in part? a, can you conclude that a difference exists in the average? salaries? state A state B sample mean 52,236 57,231 sample size 43 49 population standard deviation 6207 6671...

The Graduate Management Admission Council (GMAC) conducted an extensive and representative survey of first-year students in...

The Graduate Management Admission Council (GMAC) conducted an extensive and representative survey of first-year students in MBA programs. This study reported that the mean age of first-year MBA students was 27 years. A random sample of 45 first-year MBA students at a particular Eastern school had a mean age of 27.6 years and a standard deviation of 1.5 years. Is this sufficient evidence, at the 0.01 level, that the mean age of all first-year MBA students at this school is...

A large university is well known for both its business school and its mechanical engineering program....

A large university is well known for both its business school and its mechanical engineering program. The dean of career services wants to know if there is a difference in starting job salary between recently graduated business majors and mechanical engineering majors. Assume that the population standard deviation of the business majors' starting salaries is $12,000 and the population standard deviation of the mechanical engineering majors' starting salaries is $7,000, and that the starting salaries for both majors are normally...

1. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis...

1. Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 162000 dollars. Assume the standard deviation is 31000 dollars. Suppose you take a simple random sample of 70 graduates. Find the probability that a single randomly selected policy has a mean value between 153848.5 and 170892.5 dollars. P(153848.5 < X < 170892.5) =  (Enter your answers as numbers accurate to...

PART A) You own a small storefront retail business and are interested in determining the average...

PART A) You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of a month for 14 customers and find that the average dollar amount spent per transaction per customer is $109.477 with a standard deviation of $11.8571. Create a 90% confidence interval for the true average spent for all customers per transaction. PART B) Researchers...

Question 1 (1 point) You own a small storefront retail business and are interested in determining...

Question 1 (1 point) You own a small storefront retail business and are interested in determining the average amount of money a typical customer spends per visit to your store. You take a random sample over the course of a month for 8 customers and find that the average dollar amount spent per transaction per customer is $106.745 with a standard deviation of $13.7164. Create a 95% confidence interval for the true average spent for all customers per transaction. Question...