A dean must distribute salary raises to her faculty for next year She has decided that the mean raise is to be $2,000, the standard deviation of raises is to be $400, and the distribution is to be normal She will attempt to distribute these raises on the basis of merit, meaning that people whose pe...

Assigning raises a We first need to find the z that cut ...

A dean must distribute salary raises to her faculty for next year. She has decided that the

Question:

A dean must distribute salary raises to her faculty for next year. She has decided that the mean raise is to be $2,000, the standard deviation of raises is to be $400, and the is to be normal. She will attempt to distribute these raises on the basis of merit, meaning that people whose performance is better get better raises.
(a) The most productive 10% of the faculty will have a raise equal to or greater than $____.
(b) The 5% of the faculty who have done nothing useful in years will receive no more than $____ each.
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...