Question 6.42

6.42 Average starting salary.

The University of Texas at Austin McCombs School of Business performs and reports an annual survey of starting salaries for recent bachelor’s in business administration graduates.12 For 2013, there were a total of 430 respondents.

  1. Respondents who were supply chain management majors were 7% of the total responses. What is for the supply chain major sample?
  2. For the sample of supply chain majors, the average salary is $57,650 with a standard deviation of $9,660. What is a 90% confidence interval for average starting salaries for supply chain majors?