Question

Assume that for the population of MBA (Supply Chain Management), the average starting salary is PKR...

Assume that for the population of MBA (Supply Chain Management), the average starting salary is PKR 72,000/= and the standard deviation of PKR 20,000/=. What is the probability that a simple random sample of MBA (Supply Chain Management) will have a sample mean within PKR 68,000/= and PKR 74,000/= when sample is (i) n=50 and (ii) n=100. Conclude your result.   

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
While the average starting salary for graduates with an MBA degree varies depending on the university...
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...
The average monthly rental for a 2-bedroom apartment in Austin is $950. Assume that the population...
The average monthly rental for a 2-bedroom apartment in Austin is $950. Assume that the population mean is $950 and the population standard deviation is $200. 1. What is the probability that a simple random sample of 50 2-bedroom apartments will provide a sample mean monthly rental within +/- $100 of the population mean?? 2. What is the probability that a simple random sample of 50 2-bedroom apartments will provide a sample mean monthly rental within +/- $25 of the...
Business Week conducted a survey of graduates from 30 top MBA programs (Business Week, September 22,...
Business Week conducted a survey of graduates from 30 top MBA programs (Business Week, September 22, 2003). The survey found that the average annual salary for male and female graduates 10 years after graduation was $168,000 and $117,000, respectively. Assume the population standard deviation for the male graduates is $40,000, and for the female graduates it is $25,000. When calculating values for z, round to two decimal places. What is the probability that a simple random sample of 40 male...
The director of state agency believes that the average starting salary for clerical employees in the...
The director of state agency believes that the average starting salary for clerical employees in the state is less than $30,000 per year. To test her hypothesis, she has collected a simple random sample of 100 starting clerical salaries from across the state and found that the sample mean is $29,750. State the appropriate null and alternative hypotheses. Assuming the population standard deviation is known to be $2,500 and the significance level for the test is to be 0.05, what...
A population has a mean of 200 and a standard deviation of 50. Suppose a simple...
A population has a mean of 200 and a standard deviation of 50. Suppose a simple random sample of size ̅ 100 is selected and ? is used to estimate ?. 1. What is the probability that the sample mean will be within ±5 of the population mean? 2. What is the probability that the sample mean will be within ±10 of the population mean?
Barron's reported that the average number of weeks an individual is unemployed is 17.5 weeks. Assume...
Barron's reported that the average number of weeks an individual is unemployed is 17.5 weeks. Assume that for the population of all unemployed individuals the population mean length of unemployment is 17.5 weeks and that the population standard deviation is 5 weeks. Suppose you would like to select a sample of 50 unemployed individuals for a follow-up study. What is the probability that a simple random sample of 50 unemployed individuals will provide a sample mean within 1 week of...
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of...
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 130000 dollars. Assume the standard deviation is 31000 dollars. Suppose you take a simple random sample of 61 graduates. Find the probability that a single randomly selected salary has a mean value between 122061.7 and 137144.5 dollars. P(122061.7 < X < 137144.5) = (Enter your answers as numbers accurate to...
Assume that the sample is a simple random sample obtained from a normally distributed population of...
Assume that the sample is a simple random sample obtained from a normally distributed population of flight delays at an airport. Use the table below to find the minimum sample size needed to be 95​% confident that the sample standard deviation is within 1 % of the population standard deviation. A histogram of a sample of those arrival delays suggests that the distribution is​ skewed, not normal. How does the distribution affect the sample​ size? sigma To be​ 95% confident...
A normal population has mean "µ" and standard deviation 12. The hypotheses to be tested are...
A normal population has mean "µ" and standard deviation 12. The hypotheses to be tested are H0: µ = 40 versus H1: µ > 40. Which would result in the highest probability of a Type II error? µ = 42; n = 100 µ = 42; n = 10 µ = 41; n = 100 µ = 41; n = 10 µ = 40.9; n = 15 If a random sample has 100 observations, the true population mean is 42,...
HI6007 Statistics for Business Decisions Tutorial 7 – Week 8 Question 1: The average starting salary...
HI6007 Statistics for Business Decisions Tutorial 7 – Week 8 Question 1: 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                                       Step 2....
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT