The Mean Starting Salary of Recent Business Graduates at a University

question 47

Essay

The mean starting salary of recent business graduates at a university is $52,000 with a standard deviation of $16,000. The distribution of starting salaries is assumed to be symmetric and bell-shaped.
A) What proportion of business graduates has a starting salary between $20,000 and $84,000.
B) Suppose 600 business graduates from this university got hired. How many of them started with a salary between $20,000 and $84,000?

• A) What proportion of business graduates has a starting salary between $20,000 and $84,000.
• B) Suppose 600 business graduates from this university got hired. How many of them started with a salary between $20,000 and $84,000?

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Definitions:

Annual Taxes

Taxes that are assessed and paid once a year, commonly relating to income, property, or business revenues.

Net Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency of the business.

Debt To Suppliers

The total amount of money a company owes to its suppliers for goods and services purchased on credit.

Floor Inventory

Inventory on hand that is available for sale to customers in a retail, wholesale, or manufacturing space.