Question 245189: Assume that the average annual salary for a worker in the United States is $28,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $6,500. Find the following:
(A)What percentage of Americans earn below $24,000?
(B)What percentage of Americans earn above $36,000?
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 $28,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $6,500. Find the following:
(A)What percentage of Americans earn below $24,000?
Find the z-value of 24000
z(24000) = (24000-28000)/6500 = -4000/6500 = -0.615
P(x < 24000) = P(z < -0.615) = 0.269
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(B)What percentage of Americans earn above $36,000?
z(36000) = (36000-28000)/6500 = 1.231
P(x > 36000) = P(z > 1.231) = 0.109
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Cheers,
Stan H.
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