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MGMT 305: Homework 2
Due Date:
February16, 2011
Quiz2 Sampling Distribution, Interval 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.
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 Spring '08
 Priya

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