1. Based on historical data, your manager believes that 31% ofthe company's orders come from first-time customers. A randomsample of 146 orders will be used to estimate the proportion offirst-time-customers. What is the probability that the sampleproportion is greater than than 0.22?
Note: You should carefully round any z-values you calculate to 4decimal places to match wamap's approach and calculations.
2. Business Weekly conducted a survey of graduates from 30 topMBA programs. On the basis of the survey, assume the mean annualsalary for graduates 10 years after graduation is 157000 dollars.Assume the standard deviation is 39000 dollars. Suppose you take asimple random sample of 84 graduates.
Find the probability that a single randomly selected salary is lessthan 160000 dollars.
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Find the probability that a sample of size n=84 n=84 is randomlyselected with a mean that is less than 160000 dollars.
Answer =
Enter your answers as numbers accurate to 4 decimal places.
