(Answered) Part athe average starting salary of this years graduates

Economics

Part A

The average starting salary of this year's graduates of a large university (LU) is $25,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed.

What is the probability that a randomly selected LU graduate will have a starting salary of at least $31,000?
Fill in the blank: 20% of this year's graduates will have a starting salary that is higher than $_____?

Part B

10 items were randomly selected from a large inventory and 25% of these items are made in Canada.

What is the probability that exactly 4 of the 10 items selected are made in Canada?
What is the probability that at most 4 of the 10 items selected are made in Canada?

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Business Economics, Economics

Category:- Business Economics
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