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.
|
|
|
