# Question: The mean hourly pay rate for financial managers in the

The mean hourly pay rate for financial managers in the East North Central region is $32.62, and the standard deviation is $2.32 (Bureau of Labor Statistics, September 2005). Assume that pay rates are normally distributed.

a. What is the probability a financial manager earns between $30 and $35 per hour?

b. How high must the hourly rate be to put a financial manager in the top 10% with respect to pay?

c. For a randomly selected financial manager, what is the probability the manager earned less than $28 per hour?

a. What is the probability a financial manager earns between $30 and $35 per hour?

b. How high must the hourly rate be to put a financial manager in the top 10% with respect to pay?

c. For a randomly selected financial manager, what is the probability the manager earned less than $28 per hour?

## Answer to relevant Questions

Trading volume on the New York Stock Exchange is heaviest during the first half hour (early morning) and last half hour (late afternoon) of the trading day. The early morning trading volumes (millions of shares) for 13 days ...A Myrtle Beach resort hotel has 120 rooms. In the spring months, hotel room occupancy is approximately 75%. a. What is the probability that at least half of the rooms are occupied on a given day? b. What is the probability ...The driving distance for the top 100 golfers on the PGA tour is between 284.7 and 310.6 yards (Golfweek, March 29, 2003). Assume that the driving distance for these golfers is uniformly distributed over this interval. a. ...Many drugs used to treat cancer are expensive. BusinessWeek reported on the cost per treatment of Herceptin, a drug used to treat breast cancer (BusinessWeek, January 30, 2006). Typical treatment costs (in dollars) for ...The average price of a gallon of unleaded regular gasoline was reported to be $2.34 in northern Kentucky (The Cincinnati Enquirer, January 21, 2006). Use this price as the population mean, and assume the population standard ...Post your question