1 The economic policy institute reports that the average ent

1. The economic policy institute reports that the average entry-level wage for male college graduates is $21.06 per hour and for female college graduates is $19.52 per hour. The Standard deviation for male graduates is $3.7 and for female graduates is $2.62. Assume wages are normally distributed.

If 53 male graduates are chosen, find the probability the sample average entry level wage is at least $20.16.

2.) 25% of consumers read the ingredients listed on a product\'s label.

For a sample of 220 consumers, what is the probability that between 44 and 68 of them read the ingredients listed on a products label?

Solution

1.

We first get the z score for the critical value. As z = (x - u) sqrt(n) / s, then as          
          
x = critical value =    20.16      
u = mean =    21.06      
n = sample size =    53      
s = standard deviation =    3.7      
          
Thus,          
          
z = (x - u) * sqrt(n) / s =    -1.770837541      
          
Thus, using a table/technology, the right tailed area of this is          
          
P(z >   -1.770837541   ) =    0.961706139 [ANSWER]

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