Question: According to Salary Wizard, the average base salary for a brand manager in Houston, Texas, is $88,592 and the average base salary for a brand
According to Salary Wizard, the average base salary for a brand manager in Houston, Texas, is $88,592 and the average base salary for a brand manager in Los Angeles, California, is $97,417 (Salary Wizard website, February 27, 2008). Assume that salaries are normally distributed the standard deviation for brand managers in Houston is $19,900, and the standard deviation for brand managers in Los Angeles is $21,800.
a. What is the probability that a brand manager in Houston has a base salary in excess of $100,000?
b. What is the probability that a brand manager in Los Angeles has a base salary in excess of $100,000?
c. What is the probability that a brand manager in Los Angeles has a base salary of less than $75,000?
d. How much would a brand manager in Los Angeles have to make in order to have a higher salary than 99% of the brand managers in Houston?
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