Question 191708: The mean salary offered to students who are graduating from Coastal State University this year is $24,260, with a standard deviation of $3643. A random sample of 85 Coastal State students graduating this year has been selected. What is the probability that the mean salary offer for these 85 students is $24,750 or more?
Carry your intermediate computations to at least four decimal places. Round your answer to at least three decimal places.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! The mean salary offered to students who are graduating from Coastal State University this year is $24,260, with a standard deviation of $3643. A random sample of 85 Coastal State students graduating this year has been selected. What is the probability that the mean salary offer for these 85 students is $24,750 or more?
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z(24750) = (27450-24260)/[3643/sqrt(85)] = 1.24007
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P(z > 1.24007) = 10.747%
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Cheers,
Stan H.
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