MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Concept explainers

Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear re…
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
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Question
Business Weekly conducted a survey of recent graduates from the top MBA programs. On the basis of the survey, assume that 65% of the recent graduates annual salary exceeds $75000. Suppose you take a simple random sample of 92 recent graduates.

Note: round all z scores to 2 decimal places and all other numbers to 4 decimal places.

Find the probability that more than 55% of the 92 recent graduates have an annual salary exceeding $75000. 

Beyond representative sampling, what assumptions are needed to satisfy the requirements for this problem?
  • X∼normal or n≥30
  • X∼binomial and both np and nqat least 5
  • X∼normal and n≥30
  • X∼binomial and at least 5 successes and failures
 
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