Question

According to a National Association of Colleges and Employers, the average starting salary for new college...

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.) _______$

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Data provided by the National Association of College Employers indicated that the average starting salary for...
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.
5. The average starting salary for this year's graduates at a large university (LU) is $20,000...
5. 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 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 that a randomly selected LU graduate will have a salary of exactly $30,400? c.Individual with starting salaries of less than $15,600...
The average starting salary for this year's graduates at a large university (LU) is $20,000 with...
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...
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...
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...
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....
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 $8000. We want to determine whether or not there has been a significant increase in the starting salaries. Step 1. Statement of the hypothesis     (1.5 marks) Step 2. Standardised test statistic formula          (1 mark) Step 3. State the level...
1- Students who graduate college with a degree in economics earn higher starting salaries than the...
1- Students who graduate college with a degree in economics earn higher starting salaries than the average college graduate- or so they say. A recent survey of 430 graduates, representing 7% of the total graduates at a major university, found that their average starting salary was 57,650$ 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...
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...
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.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT