Question

The mean salary offered to students who are graduating from Coastal State University this year is $24,230 , with a standard deviation of $3678 . A random sample of 85 Coastal State students graduating this year has been selected. What is the probability that the mean salary offer for these 85 students is $23,750 or more? Carry your intermediate computations to at least four decimal places. Round your answer to at least three decimal places.

Answer 1

Solution :

= / n = 3678 / 85

P( 23750) = 1 - P( 23750)

= 1 - P[( - ) / (23750 - 24230) / 3678]

= 1 - P(z -0.1305)

= 0.5519

= 0.552