This Excel file Undergrad Survey shows the data resulting from a survey of 50 un

Question

This Excel file Undergrad Survey shows the data resulting from a survey of 50 undergraduate students at Clemson University. Majors of students in the survey are accounting (A), economics and finance (EF), management (M), marketing (MR), computer information systems (IS), other (O), and undecided (UN). "Number of affiliations" is the number of social networking sites at which the student is registered; "Spending" is the amount spent on textbooks for the current semester. The other variables are self-explanatory. We will assume that this sample is a representative sample of all Clemson undergraduates. Use Excel or statcrunch to make a histogram of GPA to verify that the distribution of GPA can be approximated by the N(3.12, 0.4) normal model.

Question 2. To attract high-quality current Clemson undergraduates into the new International Business Studies major, scholarships in International Business Studies will be offered to a Clemson undergraduate if his/her GPA is at or above the 97.74th percentile. What is the minimum GPA required to meet this criterion?

Explanation / Answer

GPA ~ N(3.12, 0.4)

mean=3.12 and variance=0.4

the sd=sqrt(0.4)=0.6325

here we use standard normal variate z=(x-mean)/sd

first here we find z such that P(Z<z)=0.9774 and

z=2 (using ms-excel =NORMSINV(0.9774))

now x=3.12+2*0.6325=4.385

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