SOLUTION: Assume that the average annual salary for a worker in the United States is $38,000 and that the annual salaries for Americans are normally distributed with a standard deviation equ

Question 660465: Assume that the average annual salary for a worker in the United States is $38,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $7,000. Find the following:

(A) What percentage of Americans earn below $25,000?
(B) What percentage of Americans earn above $46,000?

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 $38,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $7,000. Find the following:
(A) What percentage of Americans earn below $25,000?
z(25000) = (25000-38000)/7000 = -1.857
P(x < 25000) = P(z < -1.85) = normalcdf(-100,-1.85) = 0.0322
=============
(B) What percentage of Americans earn above $46,000?
Follow the same procedure for this one.
Ans: 0.1265
===============
Cheers,
Stan H.

RELATED QUESTIONS
Assume that the average annual salary for a worker in the United States is $28,000 and... (answered by stanbon)

Assume that the average annual salary for a worker in the United States is $36,000 and... (answered by stanbon)

Assume that the average annual salary for a worker in the United States is $40,000 and... (answered by stanbon)

Assume that the average annual salary for a worker in the United States is $37,500 and... (answered by stanbon)

Assume that the average annual salary for a worker in the United States is $30,000 and... (answered by stanbon)

Assume that the average annual salary for a worker in the United States is $38,000 and... (answered by ewatrrr)

Assume that the average annual salary for a worker in the United States is $28,500 and... (answered by lynnlo)

Assume that the average annual salary for a worker in the United States is $31,000 and... (answered by jello3211)

Assume that the salaries of elementary school teachers in the united states are normally... (answered by ewatrrr)