The Economic Policy Institute periodically issues reports on wages of
The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were \$21.68 per hour and for female college graduates were \$18.80 per hour in 2011 (Economic Policy Institute website, March 30, 2012). Assume the standard deviation for male graduates is \$2.30, and for female graduates it is \$2.05.
a. What is the probability that a sample of 50 male graduates will provide a sample mean within \$.50 of the population mean, \$21.68?
b. What is the probability that a sample of 50 female graduates will provide a sample mean within \$.50 of the population mean, \$18.80?
c. In which of the preceding two cases, part (a) or part (b), do we have a higher probability of obtaining a sample estimate within \$.50 of the population mean? Why?
d. What is the probability that a sample of 120 female graduates will provide a sample mean more than \$.30 below the population mean?

Membership
Tutors
• Live Video Consultation with Tutors
###### OR
Relevant Tutors available to help
MS (Information Management)
M. Sc. Statistics