Sociology graduates, upon entering the workforce, earn a mean salary of $30,000 with a standard deviation of
Question:
Sociology graduates, upon entering the workforce, earn a mean salary of $30,000 with a standard deviation of $4,000. Assume that the distribution of salaries is Normal.
(a) Jessica is an honors sociology student. Upon graduation, she would like to take a job that starts at $40,000. What is the probability that a randomly chosen salary exceeds $40,000?
(b) Jeremy squeezed through his sociology major with a C-average. He would take any job he could lay his hands on, as long as it wasn’t tossing fries, which he had been doing for four years. What is the probability that a randomly chosen salary is less than $22,000?
(c) Jolene would like to earn between $27,000 and $38,000 when she graduates. What is the probability that a randomly chosen salary lies within this range?
(d) Josefina didn’t pull those all-nighters for nothing. She would like to make between $32,000 and $39,000. What is the probability that a randomly chosen salary lies within this range?
Accounting Principles Part 3
ISBN: 978-1118306802
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow