According to the National Association of Colleges and Employers, the average starting salary for new college graduates in health sciences is $51,541

Economics Dec 09, 2020

According to the National Association of Colleges and Employers, the average starting salary for new college graduates in health sciences is $51,541. The average starting salary for new college graduates in business is $53,901 (National Association of Colleges and Employers website, January 5, 2015). Assume that starting salaries are normally distributed and that the standard deviation for starting salaries 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.

d. How much would a new college graduate in business have to earn in order to have a starting salary higher than 99% of all starting salaries of new college graduates in the health sciences?

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