Exhibit 6-6
The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000.
-Refer to Exhibit 6-6. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $30,000?
A)0.4772
B)0.9772
C)0.0228
D)0.5000

Question

Quizplus · Accepted Answer

Using the normal distribution calculator with a mean of $40,000 and a standard deviation of $5,000, we can find the area to the left of $30,000.
Z-score = (30,000 - 40,000) / 5,000 = -2
Looking at the z-table, we find the probability of a z-score being less than -2 is 0.0228.
Therefore, the probability of a randomly selected individual with an MBA degree getting a starting salary of at least $30,000 is 1 - 0.0228 = 0.9772.

Exhibit 6-6 The Starting Salaries of Individuals with an MBA Degree Are