| Question 2 Homework 3 |
| According to the National Association of Colleges and Employers, the 2015 mean salary |
| for new college graduates in health sciences was $51, 541. The mean starting salaries for |
| new college graduates in business was $53,901. Assume the starting salaries are normally |
| distributed and that the standard deviation for starting salaries for for new college graduates |
| in health sciences is $11,000. Assume that the standard deviation for starting salaries for new |
| college graduates in business is $15,000. |
| a) What is the probability that a new college graduate in business will earn a starting |
| salary of at least $65,000? |
| b) What is the probability that a new college graduate in health sciences will earn |
| a starting salary of at least $65,000? |
| c) What is the probability that a new college graduate in health sciences will earn |
| a starting salary less than $40,000? |
| d) How much would a new college graduate in business need to earn in order to have |
| a starting salary higher than 99% of all starting salaries of new college graduates in |
| the health sciences? |