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1)The GMAT scores of MBA candidates are normally distributed with a mean of 568 and Standard eviation of 25.6 What is the probabilitie of candidates scoring higher than 600 ?
2) A financial Manager is interested to study DM students. A random sample of 256 students salaries totaled $ 9,067,520 The sample standard deviation is $ 3,200
a) What is the point estimate of the students mean salary?
b) What is the point estimate of the standard deviation of the students salaries?
c)Construct a 95% confidence interval for the mean salary of the DM students?
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Solution Summary
The GMAT scores of MBA candidates are normally distributed with a mean of 568 and Standard Deviation of 25.6 is analyzed. What is the probability of candidates scoring higher than 600 is computed.
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1) P(x<600) : Z score = (X - Mean)/Std Dev
= (600 - 568)/25.6 = 1.25
P(X>600) = 1 - P(X<600)
From Normal Tables , we see that ...
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- BE, Bangalore University, India
- MS, University of Wisconsin-Madison
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