Question

28. The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally distributed with a variance of $25,000, find the probability that a group of nine graduates will have a group average over $45,000.

SHOW ALL WORK

Part A: Complete Z curve sketch: 3 pts

Part B: Calculate Z formula: 3 pts

Part C: Determine probability: 3 pts

Answer #1

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The average salary for graduates entering the actuarial field is
$40,000. If the salaries are normally distributed with a variance
of $25,000, find the probability that a group of nine graduates
will have a group average over $45000. a) complete z curve sketch
b) calculate z formula c) determine probability

The average salary for graduates entering the actuarial field is
$40,000. If the salaries are normally distributed with a standard
deviation of $25,000, find the probability that a) An individual
graduate will have a salary over $45,000. b) A group of nine
graduates will have a group average over $45000.

**PLEASE READ QUESTION CAREFULLY thank you!** The average salary
for graduates entering the actuarial field is $40,000. If the
salaries are normally distributed with a variance of $25,000, find
the probability that a group of nine graduates will have a group
average over $45000. a) complete z curve sketch b) calculate z
formula c) determine probability

Sociology graduates, upon entering the workforce are normally
distributed and earn a mean salary of $30,000 with a standard
deviation of $4000.
Jessica is an honors sociology student. Upon graduation, she
would like to take a job that starts at $40,000. What is the
probability that randomly chosen salary exceeds $40,000?
Sam is not sure how much he will make upon graduation. He would
be happy if his salary was in the middle 60% of salaries. Find the
two salaries...

While the average starting salary for graduates with an MBA
degree varies depending on the university attended and field of
emphasis, one source shows a 2015 median annual starting base
salary of $100,000 (source: Claire Zillman, “Congrats, MBA grads!
You’re getting a $45,000 raise,” http://fortune.com, May 19, 2015).
Assuming that starting salaries are normally distributed and the
standard deviation is $20,000, what is the probability that a
random sample of 100 MBA graduates will have a mean starting salary
of...

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...

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 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...

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?

The U.S. Bureau of Economics Ststistics reports that
the average annual salary in the metropolitan Boston area is
$50,542. Suppose annual salaries in the metropolitan Boston area
are normally distributed with a standard deviation of $4246. A
Boston worker is randomly selected.
(Round the values of z to 2 decimal places. Round your
answers to 4 decimal places)
a.) What is the probability that the worker's annual
salary is more than $61,000?
b.) What is the probability that the worker's...

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