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Homework answers / question archive / 1)The following table lists the number alumni have and have not gotten job offers around graduation by major Accounting Finance Management Supply Chain Yes 15 25 35 25 100 No 35 10 20 15 80 50 35 55 40 180 (a)
1)The following table lists the number alumni have and have not gotten job offers around graduation by major

Accounting 
Finance 
Management 
Supply Chain 

Yes 
15 
25 
35 
25 
100 
No 
35 
10 
20 
15 
80 

50 
35 
55 
40 
180 
(a). What is the probability of selecting a graduate whose major is management and does have job offer?
(P) Management major with job offer = 35/180=
(b). If a graduate selected is supply chain major, what is the probability that the graduate has no offer?
(P) Supply chain majors with no job offer = 15/40 =
(c). What is the probability of selecting a finance major graduate?
(P) Selecting finance major = 35/180 =
(d). What is the probability that you select a graduate who either majors in accounting or has job offer?
(P) Accounting majors or job offers = (50/180)+(100/180) – (15/180)=
2. The following table lists the total number of alumni by the number of job offers they have gotten around graduation (10 points, 5 points each, Review PPT page 10).
# of Job Offer/X 
Total # of Alumni 200 

0 
25 
.125 
1 
65 
0.325 
2 
50 
.25 
3 
35 
.175 
4 or more 
25 
.125 
(P) Graduates with 1 or less job offers = 90/200 =
(P) Graduates with 3 or more job offers = 60/200 =
3. The alumni responded that it took about 5 to 65 days to get the first offer. Supposed the time needed to get the first offer is a uniform probability distribution. Please calculate (20 points, 10 points each, Review PPT page 1315).
P (5<x<25) = (1/655)(255)=
P (15 < x <50) = (1/655)(5015) = 0.0167(35)=
4. The dean has observed for several years and found that the probability distribution of the salary of the alumni’s first job after graduation is normal, with a mean of $56k per year and a standard deviation of $4k (30 points, 10 points each, Review PPT page 1625):
Z= xmean/st dev= 5256/ 4 = 4/4 = 1
Z value 1 = P(x) 0.3413
P(annual salary > $52k) = .500 +0.3413=
Z = 6056/4 = 1
Z= 1 = P(x) = 0.3413
P ($40k < annual salary < $60k) =
Empirical rule formula +/2 deviations (4k) from mean (56k)
Salary range should be from
5. Suppose the distribution of alumni salary has a mean of $56k per year and a standard deviation of $4k. The research office collected salary information from 100 business alumni. Its collected data show that the mean salary of their first job is $58k per year (20 points, 10 points each, Review PPT page 2729.
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