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A local market research company has been hires to collect data about the salaries of recent college graduates. Based on their research, on average students graduating from business school with a degree in analytics earn $90,000 and with a standard deviation of $28,000. We can also assume that these salaries are normally distributed.
a.) In order to maintain the reputation of a "high paying degree" the company that conducts the study wants to peronally interview those students earning in the upper 1.79% of the salary range. If they only want to talk to these highest paid graduates, what is the minimum amount they must earn in order to the included in the survey?
b.) In order to maintain the reputation of a "high paying degree" the company that conducts the study exempts the lowest 6.68% of students salaries from its survey. If they do not include the data from this 6.68%, what is the maximum salary that would be excluded from the survey?
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