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GMAT Scores

Please use excel when necessary:

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?

Solution Preview

1) P(x<600) : Z score = (X - Mean)/Std Dev
<br>= (600 - 568)/25.6 = 1.25
<br>P(X>600) = 1 - P(X<600)
<br>
<br>From Normal Tables , we see ...

Solution Summary

Please use excel when necessary:

1)The GMAT scores of MBA candidates are normally distributed with a mean of 568 and Standard Deviation 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?

$2.19