The average starting salary for this year's graduates at a large university (LU) is $35,000 with a standard deviation of $6,000. 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 $38,400?b.Individuals with starting salaries of less than $19,600 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 98% of the LU graduates?
What will be an ideal response?
?
| a. | 0.2855 |
| b. | 0.51% |
| c. | $23,240 and $46,760 |
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Indicate whether the statement is true or false.
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