SOLUTION: Assume that the average annual salary for a worker in the United States is $30,000 and that the annual salaries for American are normally distributed with a standard deviation equa

Question 439712: Assume that the average annual salary for a worker in the United States is $30,000 and that the annual salaries for American are normally distributed with a standard deviation equal to $7,000. Find the following:
a)What percentage of Americans earn below $22,000?
b)What percentage of Americans earn above $42,000?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
Assume that the average annual salary for a worker in the United States is $30,000 and that the annual salaries for American are normally distributed with a standard deviation equal to $7,000. Find the following:
a)What percentage of Americans earn below $22,000?
z(22000) = (22000-30000)/7000 = -8/7
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P(x < 22000) = P(z < -8/7) = 0.1265
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b)What percentage of Americans earn above $42,000?
z(42000) = (42000-30000)/7000 = 1.7143
P(x > 42000) = P(z > 1.7143) = 0.0432
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Cheers,
Stan H.
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