Practice Exam 3 MGMT 2340 ©Woodbury School of Business, Utah Valley University This is non-circulating copyrighted time sensitive practice material to be available only during the period before Test 3. 1._____ Let Z be a standard normal random variable. P( Z > 2.14) = _______. (A) .4838 (B) .0162 (C) .0838 (D) .0675 2._____The probability that a value from a normal population is within ±0.5 standard deviations of the mean is: 3._____Scores on the ACT follow a normal distribution with a mean of 22 and a standard deviation of 5. The percentage of students who score below 30 on the ACT is: 4._____Scores on the ACT follow a normal distribution with a mean of 22 and a standard deviation of 5. If your ACT score report says that you scored at the 65th percentile, what is your (rounded) ACT score? In the population of starting salaries of all May, 2011 graduates at UVU, suppose the mean is $38,000 and the standard deviation is $4,000. 5._____ A random sample of 64 graduates is to be selected from the population. What is the probability that the average starting salary in the sample will be above $37,000? (A) .4013 (B) .0228 (C) .5987 (D) .9772 6._____ The value of the standard error of the mean is After 64 UVU graduates have been selected, we find that the average starting salary in the sample is $36,872 and the standard deviation is $3,703.