Question

The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally...

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

Homework Answers

Answer #1

(a)

(b)

(c)

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
28. The average salary for graduates entering the actuarial field is $40,000. If the salaries are...
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
**PLEASE READ QUESTION CAREFULLY thank you!** The average salary for graduates entering the actuarial field is...
**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
The average salary for graduates entering the actuarial field is $40,000. If the salaries are normally...
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.
Sociology graduates, upon entering the workforce are normally distributed and earn a mean salary of $30,000...
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...
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?
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...
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...
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...
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...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT