# Business Statistics: Mean, Standard Deviations

I could use some help with the following. Could you please explain how you get the answer to the following questions in detail please so I can compare them to mine? I do not understand my book very well and I want to make sure I understand them correctly before I turn them in. Thank you

My first question is;

The mean starting salary for college graduates in the spring of 2004 was $36,280.

I am asking to assume the distribution of starting salaries follows the normal distribution with a standard deviation of $3,300.

What percentage of the graduates has starting salaries?

a) Between $35,000 and 45,000

b) More than $45,000

c) Between $40,000 and 45,000

My second question is;

I am ask to assume a binomial probability distribution with n=40 and (pi) =.55 and compute the following

a) The mean and standard deviation of random variable

b) The probability that X is 25 or greater

c) The probability that X is 15 or less

d) The probability that X is between 15 and 25 inclusive

My third question;

A recent study by the Greater Los Angeles Taxi Drivers Association showed that the mean fare charged for service from Hermosa Beach to the Los Angeles International Airport is $18.00 and the standard deviation is $3.50.

I am ask to select a sample of 15 fares and answer a and b. Please explain how you got your answer so I can compare it to mine.

a) What is the likelihood that the sample mean is btw $17.00 and 20.00?

b) What must you assume to make the above calculation?

My last question;

Dr. Patton is a Professor of English. Recently he counted the number of misspelled words in a group of student's essays. For his class of 40 students, the mean number of misspelled words was 6.05 and the standard deviation 2.44 per essay.

I need help constructing a 95 percent confidence interval for the mean number of misspelled words in the population of student essays.

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#### Solution Summary

This solution provides a thorough walk-through of the listed problems.