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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Business Weekly conducted a survey of recent graduates from the top MBA programs. On the basis of the survey, assume that 80% of the recent graduates annual salary exceeds $40000. Suppose you take a simple random sample of 84 recent graduates.

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

Find the probability that less than 90% of the 84 recent graduates have an annual salary exceeding $40000. 

Beyond representative sampling, what assumptions are needed to satisfy the requirements for this problem?

  • X∼normal or n≥30
  • X∼normal and n≥30
  • X∼binomial and at least 5 successes and failures
  • X∼binomial and both np and nq at least 5
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