MATH SOLVE

2 months ago

Q:
# From a survey taken several years ago, the starting salaries of individuals with an undergraduate degree from Business Schools are normally distributed with a mean of $40,500 and a standard deviation of $4,500.What is the probability that a randomly selected individual with an undergraduate business degree will get a starting salary of at least $36,000.00? (Round your answer to 4 decimal places.)

Accepted Solution

A:

Answer: 0.8413Step-by-step explanation:Given: Mean : [tex]\mu=\$40,500[/tex]Standard deviation : [tex]\sigma = \$4,500[/tex]The formula to calculate z-score is given by :_[tex]z=\dfrac{x-\mu}{\sigma}[/tex]For x= $36,000.00, we have[tex]z=\dfrac{36000-40500}{4500}=-1[/tex]The P-value = [tex]P(z\geq-1)=1-P(z<-1)=1-0.1586553=0.8413447\approx0.8413[/tex]Hence, the probability that a randomly selected individual with an undergraduate business degree will get a starting salary of at least $36,000.00 = 0.8413