Question

According to a National Association of Colleges and Employers, the average starting salary for new college graduates in health sciences is $51,541. The average starting salary for new college graduates in business is $53,901.† Assume that starting salaries are normally distributed and that the standard deviation for starting salaries for new college graduates in health sciences is $13,000. Assume that the standard deviation for starting salaries for new college graduates in business is $17,000

a) What is the probability that a new college graduate in business will earn a starting salary of at least $63,000? (Round your answer to four decimal places.)

b) What is the probability that a new college graduate in health sciences will earn a starting salary of at least $63,000? (Round your answer to four decimal places.)

c) What is the probability that a new college graduate in health sciences will earn a starting salary less than $46,000? (Round your answer to four decimal places.)

d) How much would a new college graduate in business have to earn in dollars in order to have a starting salary higher than 99% of all starting salaries of new college graduates in the health sciences? (Round your answer to the nearest whole number.) _______$

Answer #1

Data provided by the National Association of College Employers
indicated that the average starting salary for graduates with a
Bachelors Degree in Accounting was $37,000 in 2008. In June 2010 a
sample of 48 graduating accounting majors provided a sample average
starting salary of $38,100, with a sample standard deviation of
$5200. Conduct a hypothesis test to determine if it can be assumed
that accounting graduates in 2010 had higher average salaries than
graduates in 2008, using α = .05.

The average starting salary for this year's graduates at a large
university (LU) is $20,000 with a standard deviation of $8,000.
Furthermore, it is known that the starting salaries are normally
distributed.
a. What is the probability that a randomly selected LU graduate
will have a starting salary of at least $30,400?
b. What is the probability that a randomly selected LU graduate
will have a salary of exactly $30,400?
c. Individuals with starting salaries of less than $15600...

2. The average starting salary for this year's graduates at a
large university (LU) is $50,000 with a standard deviation of
$10,000. Furthermore, it is known that the starting salaries are
normally distributed.
a. What is the probability that a randomly selected LU graduate
will have a starting salary of at least $45,000?
b. Individuals with starting salaries of less than $36,900
receive a low income tax break. What percentage of the graduates
will receive the tax break? c. What...

A survey reported that the mean starting salary for college
graduates after a three-year program was $34,170.Assume that the
distribution of starting salaries follows the normal distribution
with a standard deviation of $3190. What percentage of the
graduates have starting salaries: (Round z-score
computation to 2 decimal places and the final answers to 4 decimal
places.)
a. Between $31,800 and $38,200?
Probability
b. More than $42,700?
Probability
c. Between $38,200 and $42,700?
Probability

A survey reported that the mean starting salary for college
graduates after a three-year program was $34,180.Assume that the
distribution of starting salaries follows the normal distribution
with a standard deviation of $3950. What percentage of the
graduates have starting salaries: (Round z-score
computation to 2 decimal places and the final answers to 4 decimal
places.)
a. Between $31,600 and $38,000?
Probability
b. More than $44,100?
Probability
c. Between $38,000 and $44,100?
Probability

The average starting
salary of students who graduated from colleges of Business in 2009
was $48,400. A sample of 100 graduates of 2010 showed an average
starting salary of $50,000. Assume the standard deviation of the
population is known to be $8000. We want to determine whether or
not there has been a significant increase in the starting
salaries.
Step 1. Statement of the hypothesis (1.5
marks)
Step 2. Standardised test statistic
formula (1
mark)
Step 3. State the level...

1- Students who graduate college with a degree in economics earn
higher starting salaries than the average college graduate- or so
they say. A recent survey of 430 graduates, representing 7% of the
total graduates at a major university, found that their average
starting salary was 57,650$ with a standard deviation of
9,660$.
A- what is n?
B- What is a 90% confidence interval for average starting
salaries for econ majors?
2- In question 1, how would the results change...

Starting Salary Problem
In 2013, the mean starting salary for college graduates who major
in Social Work was $45,000. An analyst for a job searching company
claims that the mean starting salary has since decreased. In a
random sample of 38 job posting for social workers, the mean
starting salary was $43,200 with a standard deviation of $9,340.
Test the claim using a significance level of 0.10.
Determine the p-value.
Round your answer to 4 decimal places.

2. A random sample of 12 recent college graduates reported an
average starting salary of $54,000 with a standard deviation of
$6,000.
To construct a 95% confidence interval for the mean starting
salary of college graduates, what will be the margin of error?
Round to whole dollars.

(Use computer) Suppose 52% of recent college graduates plan on
pursuing a graduate degree. Twelve recent college graduates are
randomly selected.
a. What is the probability that no more than four of the college
graduates plan to pursue a graduate degree? (Round your final
answer to 4 decimal places.)
b.
What is the probability that at least six but no more than ten
of the college graduates plan to pursue a graduate degree?
(Round your final answer to 4 decimal...

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 7 minutes ago

asked 10 minutes ago

asked 12 minutes ago

asked 12 minutes ago

asked 15 minutes ago

asked 18 minutes ago

asked 22 minutes ago

asked 28 minutes ago

asked 29 minutes ago

asked 40 minutes ago

asked 45 minutes ago

asked 49 minutes ago