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HW2_ sampling

# HW2_ sampling - MGMT 305 Homework 2 Due Date February4 2010...

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MGMT 305: Homework 2 Due Date: February4, 2010 Quiz2- Sampling Distribution Chapter—7 1. Business Week conducted a survey of graduates from 30 top MBA programs ( Business Week , September 22, 2003). On the basis of the survey, assume that the mean annual salary for male and female graduates 10 years after graduation is \$168,000 and \$117,000, respectively. Assume the standard deviation for the make graduates is \$40,000, and for the female graduates it is \$25,000. a. What is the probability that a simple random sample of 40 male graduates will provide a sample mean within \$10,000 of the population mean, \$168,000? b. What is the probability that a simple random sample of 40 female graduates will provide a sample mean within \$10,000 of the population mean, \$117,000? c. In which of the preceding two cases, part (a) or part (b), do we have a higher probability of obtaining a sample estimate within \$10,000 of the population mean? Why? d. What is the probability that a simple random sample of 100 make graduates will provide a sample mean more than \$4,000 below the population mean?

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