SOLUTION: Salary offer You are applying for a job at two companies. Company A offers starting salaries with u = $31,000 and o = $1,000. Company B offers starting salaries with u = $31,000

Algebra ->  Probability-and-statistics -> SOLUTION: Salary offer You are applying for a job at two companies. Company A offers starting salaries with u = $31,000 and o = $1,000. Company B offers starting salaries with u = $31,000       Log On


   

Question 311552: Salary offer You are applying for a job at two companies. Company A offers starting salaries with u = $31,000 and o = $1,000. Company B offers starting salaries with u = $31,000 and o = $5,000. From which company are you more likely to get an offer of $33,000 or more?
The u is the lowercase Greek letter (mu), I'm not sure what the other symbol stands for o? it looks like an o with a little hook on top?
Answer by scott8148(6628) About Me  (Show Source):
You can put this solution on YOUR website!
lowercase mu is the mean (average) offer

the "o with a hook" is a lowercase sigma and stands for the standard deviation of the offer amounts

33000 is 2 standard deviations above the mean for company A; but less than one standard deviation above the mean for company B

statistically speaking; the likelyhood is much better for a 33000 offer from B