Suppose that college faculty with the rank of professor at

Reference no: EM13613039

Suppose that college faculty with the rank of professor at tow-year institutions earn an average of $64,571 per year with a standard deviation of $4,000. In an attempt to verify this salary level, a random sample of 60 professors was selected from a personnel database for all two-year institutions in the US.

a. Describe the sampling distribution of the sample mean.

b. Within what limits would you expect the sample average to lie, with probability .95?

c. Calculate the probability that the sample mean is greater than $66,000

d. If your random sample actually produced a sample mean of $66,000, would you consider this unusual? What conclusion might you draw?

Reference no: EM13613039

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