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The Economic Policy Institute periodically issues reports on wages of entry level workers. The institute reported...

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Basic Math

The Economic Policy Institute periodically issues reports onwages of entry level workers. The institute reported that entrylevel wages for male college graduates were $21.68 per hour and forfemale college graduates were $18.80 per hour in 2011.† Assume thestandard deviation for male graduates is $2.30, and for femalegraduates it is $2.05. (Round your answers to four decimalplaces.)

1. What is the probability that a sample of 60 male graduateswill provide a sample mean within $0.50 of the population mean,$21.68?

2. What is the probability that a sample of 60 female graduateswill provide a sample mean within $0.50 of the population mean,$18.80?

3. In which of the preceding two cases, part (a) or part (b), dowe have a higher probability of obtaining a sample estimate within$0.50 of the population mean? Why?

4. What is the probability that a sample of 130 female graduateswill provide a sample mean less than the population mean by morethan $0.30?

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