Question 3 Parts a-d (Attached Tables If Applicable)
- Attachment 1
- Attachment 2
- Attachment 3
3. 128 points ; Suppose 30 year olds who have college degrees have an average wage of $50 / hourwith a standard deviation of $20 / hour , and their wages are normally distributed . Suppose 30year olds without college degrees also have normally distributed wares , but their average is$30 / hour with a standard deviation of $10 / hour . Seventy percent of 30 year olds have highschool degrees , and 30 percent have college degrees .( a) 15 points) What is the probability that a 30 year old with a college degree earns less than$10 / hour ?"( 6) 15 points ; What is the probability that a 30 year old without a college degree carls lessthan $10 / hour ?"( c) 19 points ) You randomly choose a person who earns less than $10 / hour . What is theprobability he has a college degree ?"( d) (9 points) You have a sample of 100 people . It turns out that precisely 30 of them havecollege degrees , and precisely TO do not . Let {" be the average wage of all 100 people . 50I" call be expressed in the following way :"* =Where LI , {} . …. An are the SO randomly chosen people with college degrees and All , Azz . …. Andare the TO randomly chosen people without college degrees . Find*{|}" and JF .