Question

There is a new working class with money to burn, according to the USA Today March 1, 2005, article “New ‘gold-collar’ young workers gain clout.” “Gold-collar” is a subset of blue-collar workers, defined by researchers as those working in fast food and retail jobs, or as security guards, office workers, or hairdressers. These 18- to 25-year- old “gold-collar” workers are spending an average of $729 a month on themselves (versus $267 for college students and $609 for blue-collar workers). Assuming this spending is normally distributed with a standard deviation of $92.00, what percentage of gold-collar workers spend:
a. between $600 and $900 a month on themselves?
b. between $400 and $1000 a month on themselves?
c. more than $1050 a month on themselves?
d. less than $500 a month on themselves?


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  • CreatedAugust 28, 2015
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