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Average Earnings of Workers The average earnings of
Chapter 3, Problem 16RE(choose chapter or problem)
The average earnings of year–round full–time workers 25–34 years old with a bachelor’s degree or higher were $58.500 in 2003. If the standard deviation is $11,200, what can you say about the percentage of these workers who earn.
a. Between $47.300 and $69,700?
b. More than $80.900?
c. How likely is it that someone earns more than $100,000?
Source: New York Times Almanac
Questions & Answers
QUESTION:
The average earnings of year–round full–time workers 25–34 years old with a bachelor’s degree or higher were $58.500 in 2003. If the standard deviation is $11,200, what can you say about the percentage of these workers who earn.
a. Between $47.300 and $69,700?
b. More than $80.900?
c. How likely is it that someone earns more than $100,000?
Source: New York Times Almanac
ANSWER:Step 1 of 4
It is given that, the mean of the earnings of the year-round full-time workers with a bachelor’s degree or more in the age group 25-34 years old was $58,500 in 2003.
The standard deviation is $11,200.