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. 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

We need to find the probability of getting a starting salary of at least $30,000, which can be written as P(X ≥ 30,000). To solve this, we first need to calculate the z-score:

z = (30,000 - 40,000) / 5,000 = -2

Next, we use a standard normal distribution table to find the probability:

P(Z ≥ -2) = 0.9772

Therefore, the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $30,000 is 0.9772 or approximately 98%.

The Starting Salaries of Individuals with an MBA Degree Are