The mean salary for a population of women who work in a traditional male job is $80,000. A random sample of 100 women is taken from this population and the sample mean and standard deviation are found to be x‾ = $78,000 and s = $4000.
a. Compute the standardized statistic for the sample mean in this situation.
b. Draw a picture of the appropriate distribution for the standardized statistic, and find the area below the value of the standardized statistic computed in part (a). (Note: The use of either statistical software or Excel is necessary.)