The average annual salary for all U.S. teachers is $47,750. Assume that the distribution is normal and the standard deviation

Question:

The average annual salary for all U.S. teachers is $47,750. Assume that the distribution is normal and the standard deviation is $5680. Find the probability that a randomly selected teacher earns
a. Between $35,000 and $45,000 a year 0.3031
b. More than $40,000 a year 0.9131
c. If you were applying for a teaching position and were offered $31,000 a year, how would you feel (based on this information)? 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...

This problem has been solved!


Do you need an answer to a question different from the above? Ask your question!

Step by Step Answer:

Related Book For  answer-question
View Solution
Create a free account to access the answer
Cannot find your solution?
Post a FREE question now and get an answer within minutes. * Average response time.
Question Posted: September 02, 2015 03:48:46