Question

(STANDARD NORMAL DISTRIBUTION) A company pays its executives an average salary of $29,415 per hour with a typical deviation of $2,775. If the salaries are approximately normally distributed and are paid without cents. What is the hourly wage earned by the bottom 15% of executives at the company? How much is the highest hourly wage?

Name: standard normal distribution a company pays its executives an average salary of 29415 per hour with a typical deviation of 2775 if the salaries are approximately normally distributed and are paid wi 2
Uploaded: 2023-06-21T11:00:00-08:00
Duration: 3 min 15 s
Channel: Jacob Fry
Description: standard normal distribution a company pays its executives an average salary of 29415 per hour with a typical deviation of 2775 if the salaries are approximately normally distributed and are paid wi 2

          (STANDARD NORMAL DISTRIBUTION)
A company pays its executives an average salary of $29,415 per hour with a typical deviation of $2,775. If the salaries are approximately normally distributed and are paid without cents. What is the hourly wage earned by the bottom 15% of executives at the company? How much is the highest hourly wage?

Added by Andres C.

Probability with Applications in Engineering, Science, and Technology

Matthew A. Carlton • Jay L. Devore 2nd Edition

Instant Answer

Solved by Expert Jacob Fry

06/21/2023

Step 1

First, we need to find the z-score corresponding to the bottom 15% of the distribution. We can use a z-table or an online calculator to find this value. The z-score for the bottom 15% is approximately -1.04. Show more…

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(STANDARD NORMAL DISTRIBUTION) A company pays its executives an average salary of $29,415 per hour with a typical deviation of $2,775. If the salaries are approximately normally distributed and are paid without cents. What is the hourly wage earned by the bottom 15% of executives at the company? How much is the highest hourly wage?