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Author Question: The salaries at a corporation are normally distributed with an average salary of 19,000 and a ... (Read 127 times)

altibaby

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on: Jun 24, 2018
The salaries at a corporation are normally distributed with an average salary of 19,000 and a standard deviation of 4,000.
 a. What is the probability that an employee will have a salary between 12,520 and 13,480?
  b. What is the probability that an employee will have a salary more than 11,880?
  c. What is the probability that an employee will have a salary less than 28,440?

Question 2

A small stock brokerage firm wants to determine the average daily sales (in dollars) of stocks to their clients. A sample of the sales for 36 days revealed average daily sales of 200,000 . Assume that the standard deviation of the population is known to be 18,000.
 a. Provide a 95 confidence interval estimate for the average daily sale.
  b. Provide a 97 confidence interval estimate for the average daily sale.


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ashely1112

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a. .0312
b. .9625
c. .9909

Answer to Question 2

a. 194,120 to 205,880
b. 193,490 to 206,510


altibaby

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Reply #2 on: Jun 24, 2018
Thank you


ashely1112

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Reply #3 on: Jun 24, 2018
No problemo


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