The probability that they have a mean salary between $40,000 and $50,000 is 0.01.
A z-test is a statistical test to determine whether two population means are different when the variances are known and the sample size is large.
The z-score for 40,000 is
= (40,000 - 66000) / (14,000 / √4)
= -26000/7000
= -3.714, P- value is 0.000102
The z-score for 50,000
= (50,000 - 66,000) / (14,000 / √4)
=-2.285, P- value is 0.0111564
P(40,000 < x < 50,000) = P( -3.714< z < -2.285)
So,
= P(50,000)-P(40,000)
= 0.0111564-0.000102
=0.011
Hence, the probability that they have a mean salary between $40,000 and $50,000 is 0.01.
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