Suppose average, recent graduates from the College of Business earn approximately mu = 64,000 per year in their first job after graduation Assume that the distribution for recent graduate's yearly earnings is normally distributed and that the standard deviation is sigma = $14,000 Given a sample of 10 recent graduates, what is the probability that the average salary is between 5% below the mean salary to 10% above the mean salary?

Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter13: Probability And Calculus
Section13.CR: Chapter 13 Review
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Suppose average, recent graduates from the College of Business earn approximately mu = 64,000 per year in their
first job after graduation Assume that the distribution for recent graduate's yearly earnings is normally distributed and
that the standard deviation is sigma = $14,000 Given a sample of 10 recent graduates, what is the probability that
the average salary is between 5% below the mean salary to 10% above the mean salary?
Transcribed Image Text:Suppose average, recent graduates from the College of Business earn approximately mu = 64,000 per year in their first job after graduation Assume that the distribution for recent graduate's yearly earnings is normally distributed and that the standard deviation is sigma = $14,000 Given a sample of 10 recent graduates, what is the probability that the average salary is between 5% below the mean salary to 10% above the mean salary?
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ISBN:
9780321964038
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GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
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