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The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000. Refer to Exhibit 6-4. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $47,500

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  1. Today, 01:49
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    Answer: The answer is 6.68%

    Explanation:

    Using the z value formula

    Z = x - mean / standard deviation

    x = $47,500

    Mean = $40,000

    Standard deviation = $5,000

    = 47,500 - 40,000 / 5,000

    = 7,500 / 5,000

    = 1.5

    Then we look for z value of 1.5 to the left of normal distribution table because the probability is at least

    The z value is 0.0668

    0.0668 * 100

    = 6.68%

    Therefore the probability that an individual with an MBA degree will get a starting salary of at least $47,500 is 6.68%
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