Statistics Solutions

Solution: The average starting salary of this years graduates of a large university LU is $30,000 with a standard deviation of $5,000. Its also know that

Question: The average starting salary of this years graduates of a large university LU is $30,000 with a standard deviation of $5,000. Its also know that the starting salaries are normally distributed.

  1. what is the probability that a randomly selected LU graduated will have a starting salary of at at least 36,000?
  2. individuals with starting salaries of less than $17,200 receive a low income tax break. What percentage of the graduates will receive the tax break?
  3. what are the minimum and the maximum starting salaries of the middle 95% of the LU Graduates?
  4. If 68 of the recent graduates have salaries of at least $40,600, how many students graduated this year?

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