Question: problem 10(want text answer only). The average starting salary for this year's graduates at a large university (LU) is $20,000 with a standard deviation of

 problem 10(want text answer only). The average starting salary for this

problem 10(want text answer only). The average starting salary for this year's graduates at a large university (LU) is $20,000 with a standard deviation of $8,000. Furthermore, it is known that the starting salaries are normally distributed a. What is the probability that a randomly selected LU graduate will have a starting salary of at least $30,400? (3 marks) b. What is the probability that a randomly selected LU graduate will have a salary of exactly $30,400? (2 marks) C. Individuals with starting salaries of less than $15600 receive a low income tax break. What percentage of the graduates will receive the tax break? (2 marks) d. If 189 of the recent graduates have salaries of at least $32240, how many students graduated this year from this university

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!