Question

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 $146,000. Assume the standard deviation is $38,000. Suppose you take a simple random sample of 46 graduates. Round all answers to four decimal places if necessary.

A. What is the distribution of X? X ~ N(      ,      )

B. What is the distribution of ¯x? ¯x ~ N(      ,     )

C. For a single randomly selected graduate, find the probability that her salary is between $148,096 and $150,897.

D. For a simple random sample of 46 graduates, find the probability that the average salary is between $148,096 and $150,897.

E. For part d), is the assumption of normal necessary?   Yes or No

Answer 1