Business Week conducted survey of graduates from 30 top MBA programs (Business Week, September 22, 2003). The survey found that average annual salary for male as well as female graduates ten years after graduation was $168,000 and $117,000, respectively. Suppose the population standard deviation for male graduates is $45,000, and for female graduates it is $22,000
1. Determine the probability that a simple random sample of 40 male graduates will offer a sample mean within $10,000 of the population mean, $168,000?
2. Determine the probability that a simple random sample of 40 female graduates will offer a sample mean in $10,000 of the population mean, $117,000?
3. Determine the probability that a simple random sample of 100 male graduates will offer a sample mean more than $4,000 below population mean
4- In which of the preceding two cases, part 1 and part 2 we have higher probability of obtaining sample estimate within $10,000 of the population? Why?