ame Date Class BIA 2610 Midterm Esam A professor at a local university noted 208

Question

ame Date Class BIA 2610 Midterm Esam A professor at a local university noted 208 and a standard deviation of 25. The professor has informed uswn decimals(10 pts.) that the midterm grades of her students were normally distributed with a mean that 12.3% of her students received grades of A. ded to two decimals)? (10 pts.) What is the minimum score needed to receive a grade of A (roun mean Zo8 SD 26 x 208/ 208 12.2% ns VRince-625 The average starting salary for this year's graduates at a large university (LU) is $30,000 with a standard deviation of 000. Furthermore, it is known that the starting salaries are normally distributed. What is the p robability that a randomly selected LU graduate will have a starting salary of at least $30,4002 (5pts.)

Explanation / Answer

We need to find the value z such that P ( Z >z) = 0.123

Seeing the z tables , we find that z value for P(Z>z) = 0.123

z=1.16012

Z = (x-mean)/Sigma

1.16012 * 25 +208 = 237.003

Question 2 )

Z = (x-mean)/sigma =( 30400-30000)/8000 = 0.05

P(Z>z=0.05) can be found from z tables as 0.480061

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