SOLUTION: You are applying for a job at two companies. Company A offers salaries with a mean of 46000 and a standard deviation of 2500 and company B offers salaries with a mean of 46000 and
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Question 838673: You are applying for a job at two companies. Company A offers salaries with a mean of 46000 and a standard deviation of 2500 and company B offers salaries with a mean of 46000 and a standard deviation of 5000. Which company is most likely to offer a starting salary less than 38,000?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
You are applying for a job at two companies. Company A offers salaries with a mean of 46000 and a standard deviation of 2500
z(38000) = (38000-46000)/2500 = -3.2
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and company B offers salaries with a mean of 46000 and a standard deviation of 5000.
z(38000) = (38000-46000)/5000 = -1.6
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Which company is most likely to offer a starting salary less than 38,000?
Company A:: P(z < -3.2) = 0.000687
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Company B:: P(z < -1.6) = 0.0548
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Ans: Company B
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Cheers,
Stan H.
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