Questions 17-19 are related to the following A recent article in a business jour

Question

Questions 17-19 are related to the following A recent article in a business journal reported that the mean annual salary for graduates from 30 top MBA programs 10 years after graduation is = $254,000. Assume the standard deviation is = $50,000. 17 What is the probability that a random sample of n = 40 graduates will provide a sample mean within $10,000 of the population mean. a 0.8530 b 0.8198 c 0.7924 d 0.7698 18 What is the middle interval that captures 95% of the mean salaries from samples of size 40 graduates. a $233,603 $274,397 b $238,505 $269,495 c $241,035 $266,965 d $243,881 $264,119 19 Keep the error probability at = 0.05. We want to build an interval which captures 95% of the sample means within ±$10,000 from the population mean. What is the minimum sample size that would yield such an interval? a 107 b 97 c 87 d 77 Questions 17-19 are related to the following A recent article in a business journal reported that the mean annual salary for graduates from 30 top MBA programs 10 years after graduation is = $254,000. Assume the standard deviation is = $50,000. 17 What is the probability that a random sample of n = 40 graduates will provide a sample mean within $10,000 of the population mean. a 0.8530 b 0.8198 c 0.7924 d 0.7698 18 What is the middle interval that captures 95% of the mean salaries from samples of size 40 graduates. a $233,603 $274,397 b $238,505 $269,495 c $241,035 $266,965 d $243,881 $264,119 19 Keep the error probability at = 0.05. We want to build an interval which captures 95% of the sample means within ±$10,000 from the population mean. What is the minimum sample size that would yield such an interval? a 107 b 97 c 87 d 77

Explanation / Answer

a)

option C

18)

for middle 95% ; z =-/+1.96

hence interval =mean -/+ z*std deviation =238505 ; 269495

option B

19)

option b

for normal distribution z score =(X-)/ here mean=       = 254000.000 std deviation   == 50000.0000 sample size       =n= 40 std error=x=/n= 7905.6942

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.