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Average starting salary of year graduates

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Reference no: EM131929597

Part A

The average starting salary of this year's graduates of a large university (LU) is $25,000 with a standard deviation of $5,000. Furthermore, it is known that the starting salaries are normally distributed.

  1. What is the probability that a randomly selected LU graduate will have a starting salary of at least $31,000?
  2. Fill in the blank: 20% of this year's graduates will have a starting salary that is higher than $_____? 

Part B

10 items were randomly selected from a large inventory and 25% of these items are made in Canada.

  1. What is the probability that exactly 4 of the 10 items selected are made in Canada?
  2. What is the probability that at most 4 of the 10 items selected are made in Canada?

Reference no: EM131929597

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