SOLUTION: 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 18900

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Question 1134232: 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 189000 dollars. Assume the standard deviation is 34000 dollars. Suppose you take a simple random sample of 97 graduates.
(a) Find the probability that a single randomly selected policy has a mean value between 190726.1 and 197975.7 dollars.
P(190726.1 < X < 197975.7) = _____________
(Enter your answers as numbers accurate to 4 decimal places.)
(b) Find the probability that a random sample of size n=97 has a mean value between 190726.1 and 197975.7 dollars.

P(190726.1 < M < 197975.7) = ______________
(Enter your answers as numbers accurate to 4 decimal places.)
Answer by Glaviolette(140) About Me  (Show Source):
You can put this solution on YOUR website!
You have to assume normal distribtuion and I used a z table for areas.