A salesperson receives an annual salary of $6,000 plus 8% of the value of the orders she takes. The annual value of these orders can be represented by a random variable with a mean of $600,000 and a standard deviation of $180,000. Find the mean and standard deviation of the salesperson's annual income.
Answer to relevant QuestionsLet the random variable Z follow a standard normal distribution. a. Find P(Z < 1.202. b. Find P(Z > 1.332. c. Find P(Z > – 1.702. d. Find P(Z > – 1.002. e. Find P(1.20 < Z < 1.332. f. Find P(–1.70 < Z < 1.202. g. Find ...It is known that amounts of money spent on clothing in a year by students on a particular campus follow a normal distribution with a mean of $380 and a standard deviation of $50. a. What is the probability that a randomly ...The number of hits per day on the Web site of Professional Tool, Inc., is normally distributed with a mean of 700 and a standard deviation of 120. a. What proportion of days has more than 820 hits per day? b. What proportion ...Given a random sample size of n = 900 from a binomial probability distribution with P = 0.50 do the following: a. Find the probability that the number of successes is greater than 500. b. Find the probability that the number ...The tread life of Stone Soup tires can be modeled by a normal distribution with a mean of 35,000 miles and a standard deviation of 4,000 miles. A sample of 100 of these tires is taken. What is the probability that more than ...
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