Salaries of Professors Narrative
Suppose that college faculty with the rank of professor at four-year institutions earn an average of $72,500 per year with a standard deviation of $4,500. In an attempt to verify this salary level, a random sample of 60 professors was selected from a personnel database for all four-year institutions in Canada.
-Refer to Salaries of Professors Narrative. Calculate the probability that the sample mean 
is greater than $75,000.
Definitions:
Net Worth
The total assets minus total outside liabilities of an individual or a company, indicating their financial health.
Generation X
Includes the 55 million people born between 1965 and 1980. Also called the baby bust.
Millennials
A demographic cohort following Generation X, generally born between the early 1980s and the mid-1990s to early 2000s.
Revolution Generation
A concept or term sometimes used to describe a cohort of individuals who are perceived as being involved in making significant societal changes or technological advances.
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