The starting salary among recent graduates of the Evian Business School has a standard deviation of $17,000. If you randomly survey 40 students and calculate the average of their starting salaries, what is the probability that the average in the sample will exceed the average among all students by more than $5,000?
In the text box below the question, indicate your choice (a) or (b); if you choose (b) please type in the calculations and the probability:
a. This question cannot be answered because we do not know what the average salary is.
b. It does not matter what the average salary is; the probability can be calculated and it is
_________________ (please show your work and the probability below).
choose option-b... View the full answer