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    Business Statistics: Mean, Standard Deviations

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    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.

    © BrainMass Inc. brainmass.com April 3, 2020, 2:46 pm ad1c9bdddf
    https://brainmass.com/statistics/probability/business-statistics-mean-standard-deviations-45288

    Solution Summary

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

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