0.2296 is the probability that a new college graduate in business will earn a starting salary of at least (to 4 decimals).
Let X denotes the salary of a new college graduate in business.
P(X > 65,000} = 1− P(X < 65,000)
65111 53901
15011
=1-2
=1-P(x < 0.74)
= 10.7714= 0.2296.
The national average salary for college graduates (overall) has remained constant at about $50,000 to $60,000 for the past several years. Economics, Mathematics, Health Sciences, Engineering, and Computer Science show median annual salaries as high as $52,000 to $71,000 for him.
Specifically, while the median expected salary for a graduate was $60,000, PayScale data shows that a typical graduate with 0-5 years of experience earns $48,400 annually. College students should expect a decent salary after graduation. Ambition is good.
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