The average starting salary of this year's graduates of 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?b.Individuals with starting salaries of less than $15,600 receive a low income tax break. What percentage of the graduates will receive the tax break?c.What are the minimum and the maximum starting salaries of the middle 95% of the LU graduates?d.If 189 of the recent graduates have salaries of at least $32,240, how many students graduated this year from this university?
What will be an ideal response?
| a. | .0968 |
| b. | 29.12% |
| c. | $4,320, $35,680 |
| d. | 3,000 |
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