What to conclude about the validity of the claim

Reference no: EM13142395

A business school claims that the average income of graduates of this school three years after graduation is $700.

a. If the claim is correct and if incomes are normally distributed with a standard deviation of $60, what is the probability that 36 randomly selected graduates have an average income of less than $675?

b. If a random sample of 36 graduates had an average weekly income of $675, what would you conclude about the validity of the claim?

Reference no: EM13142395

Questions Cloud

Adjustment for circulation expenditures : Since the income of the business is small, Sherry decides to capitalize the expenditures and to amortize them over 3 years for regular income tax purposes. The AMT adjustment for circulation expenditures for the first year of operations is:

Crime and gambling : Crime and gambling Need a introduction paragraph on crime and gambling

What are the methods of identification for viruses : what are the methods of identification for viruses, fungi, parasites, and bacteria?

Compute the claim against the insurance company : our past records show that sales are made at approximately 25% over cost. Garnett's insurance covers only goods owned. Instructions Compute the claim against the insurance company.

What to conclude about the validity of the claim : If a random sample of 36 graduates had an average weekly income of $675, what would you conclude about the validity of the claim?

Each component of other comprehensive income is displayed : The company's effective tax rate on all items affecting comprehensive income is 30%. Each component of other comprehensive income is displayed net of tax.

What were its causes : "Explain what is meant by the term "market revolution." What were its causes? Describe how the "market revolution" shaped Americans' perceptions and actions in the Jacksonian era.

What is erin tax preference for excess depletion : Erin owns a mineral property that had a basis of $10,000 at the beginning of the year. The property qualifies for a 15% depletion rate. Gross income from the property was $120,000 and net income before the percentage depletion deduction was $50,00..

"emerging technologies" : "What are some of the "emerging technologies" of 2006 and where they successful or unsuccessful?

User Account

All Pages