Question

The Economic Policy Institute issues reports on wages of entry level workers. The Institute reported that entry level wages for male collge graduates were $21.68 per hour and for femail graduates $18.80 per hour. Assume the SD for male grads is $2.30 and for female grads $2.05.

a) What is the probability that a simple random sample of 50 male grads will provide a sample mean within fifty cents of the population mean $21.68?

b) What is the probability that a simple random sample of 50 female grads will provide a sample mean within fifty cents of the population mean $18.80?

c) In which of the preceding two cases, (a) or (b), do we have a higher probability of obtaining a sample estimate within fifty cents of the population mean? Why?

d) What is the probability that a sample of 120 female grads will provide a sample mean more than thirty cents below the population mean?

Answer 1