SOLUTION: The Economic Policy Institute reports that the average entry-level wage for male college graduates is $22.76 per hour and for female college graduates is $19.10 per hour. The stand
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Question 1070053: The Economic Policy Institute reports that the average entry-level wage for male college graduates is $22.76 per hour and for female college graduates is $19.10 per hour. The standard deviation for male graduates is $3.74 and for female graduates is $3.19. Assume wages are normally distributed.
Question 1: If 28 females graduates are chosen, find the probability the sample average entry-level wage is at least $20.25
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The Economic Policy Institute reports that the average entry-level wage for male college graduates is $22.76 per hour and for female college graduates is $19.10 per hour.
The standard deviation for male graduates is $3.74 and for female graduates is $3.19. Assume wages are normally distributed.
Question 1: If 28 females graduates are chosen, find the probability the sample average entry-level wage is at least $20.25
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Find the z-score for 20.25 for groups of 28 female college grads.
z(20.25) = (20.25-19.10)/(3.74/sqrt(28)) = 1.627
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P(x-bar > 20.25) = P(z > 1.627) = normalcdf(1.627,100) = 0.0519
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Cheers,
Stan H.
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