Suppose the distribution of alumni salary has a mean of $50k per year and a standard deviation of $5k. The research office collected salary information from 121 business alumni. Its collected data show that the mean salary of their first job is $58k per year. Please show all work as I would like to learn this skill.
(a) What is the sample size and standard error of the data collected?
(b) What is the probability that the sampled alumni have a mean salary of $58k or more?