Question

In a recent year, the average salary of individuals at a large corporation was $74,320. Assume...

In a recent year, the average salary of individuals at a large corporation was $74,320. Assume the standard deviation is $5,400 and the average salary of individuals in the large corporation is normally distributed. Find the probability that the mean of a sample of 72 employees of the large corporation will be (Show your work to receive credit):

a) Between $73,000 and $75,000

b) More than $72,400

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
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 large corporation employs 39955 individuals. The average income of all employees is $62530, with a...
A large corporation employs 39955 individuals. The average income of all employees is $62530, with a standard deviation of $19296 and is skewed to the right. Consider this to be the population distribution. You are given a data set consisting of the incomes of 180 randomly selected employees. The population mean is μ= The population standard deviation is σ= The sample size is n= Since the sample size is relatively large, the Central Limit Theorem tells us that the sample...
According to a recent Current population Reports self-employed individuals in the United States work an average...
According to a recent Current population Reports self-employed individuals in the United States work an average of 45 hours per week with a standard deviation of 1.5 hours. Assume that this variable is approximately Normally distributed, what proportion of the population work more than 47 hours per week on average? b)                     What is the 80th percentile of this distribution? c)                     What is the interquartile range of the average hours per week worked by self employed persons? d)                     Suppose we...
The salaries at a corporation are normally distributed with an average salary of $19,000 and a...
The salaries at a corporation are normally distributed with an average salary of $19,000 and a standard deviation of $4,000. USE Z SCORE AND TABLE What is the probability that an employee will have a salary between $12,520 and $13,480?                b.    What is the probability that an employee will have a salary more than $11,880?             c.    What is the probability that an employee will have a salary less than $28,440?
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...
5. The salaries at a corporation are normally distributed with an average salary of $19,000 and...
5. The salaries at a corporation are normally distributed with an average salary of $19,000 and a standard deviation of $4,000. a. What is the probability that an employee will have a salary between $12,520 and $13,480? b. What is the probability that an employee will have a salary more than $11,880? c. What is the probability that an employee will have a salary less than $28,440? d. What is the probability that an employee will have a salary between...
The average amount of money individuals spend during Christmas season is $1,740. Assume the standard deviation...
The average amount of money individuals spend during Christmas season is $1,740. Assume the standard deviation is $320 and the average amount of money individuals spend during Christmas season is normally distributed. Find the probability that for a sample of 32 individuals, they will spend an average: a) Between $1,600 and $1,850 during Christmas season b) More than $1820 during Christmas season
According to the Bureau of Labor Statistics, the mean salary for registered nurses in Kentucky was...
According to the Bureau of Labor Statistics, the mean salary for registered nurses in Kentucky was $58,605. The distribution of salaries is assumed to be normally distributed with a standard deviation of $5,688. Someone would like to determine if registered nurses in Ohio have a greater average pay. To investigate this claim, a sample of 297 registered nurses is selected from the Ohio Board of Nursing, and each is asked their annual salary. The mean salary for this sample of...
Employees in a large accounting firm claim that the mean salary of the firm’s accountants is...
Employees in a large accounting firm claim that the mean salary of the firm’s accountants is less than that of its competitor’s which is $45,000. A random sample of 16 of the firm’s accountants has a mean salary of $43,500. Assume that the population standard deviation is $5200. Test the employees claim. What assumption is necessary for this test to be valid? None. The Central Limit Theorem makes any assumptions unnecessary. The population of all salaries of the firm’s accountants...