1 The starting salaries of individuals with an MBA degree ar

1. The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a starting deviation of $5,000.

a) What is the random variable in this experiment?

a. the starting salaries

b. the normal distribution

c. $40,000

d. $5,000

b) What percentage of MBA\'s will have starting salaries of $34,000 to $46,000?

a. 38.49%

b. 38.59%

c. 50%

d. 76.98%

*Please Show Work*

Solution

a) What is the random variable in this experiment?

a. the starting salaries - This is the variable

b. the normal distribution

c. $40,000

d. $5,000

b) What percentage of MBA\'s will have starting salaries of $34,000 to $46,000?

Since Standard Deviation is $5000, this means by definition that 67% of all salarie s will lie within one standard evistion of the mean of $40,000. This means 67% of all salaries will like betwee $35,0000 to $45,000. Since the range is $34,000 - $46,000 is is a wider range which means more than 67% of the salaries must lie in it.

Therefore, the only acceptable answer is d 76.98%

a. 38.49%

b. 38.59%

c. 50%

d. 76.98%