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 $47,500?
A)0.4332
B)0.9332
C)0.0668
D)0.5000

Question

Quizplus · Accepted Answer

To find the probability that a randomly selected individual will get a starting salary of at least $47,500, we calculate the z-score: z = (47,500 - 40,000) / 5,000 = 1.5. Using the standard normal distribution table, the probability of a z-score less than 1.5 is 0.9332. Therefore, the probability of a z-score greater than 1.5 is 1 - 0.9332 = 0.0668.

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