Question

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 $165,000. Assume the standard deviation is $37,000. Suppose you take a simple random sample of 16 graduates. Round all answers to four decimal places if necessary.

What is the distribution of X ? X ~ N( , )

What is the distribution of ¯ x ? ¯ x ~ N( , )

For part b), is the assumption of normal necessary? No or Yes

For a single randomly selected graduate, find the probability that her salary is between $162,025 and $175,250.

For a simple random sample of 16 graduates, find the probability that the average salary is between $162,025 and $175,250.

Answer 1