The average teachers salary in Connecticut (ranked first among states) is $57,337. Suppose that the distribution of
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The average teacher’s salary in Connecticut (ranked first among states) is $57,337. Suppose that the distribution of salaries is normal with a standard deviation of $7500.
a. What is the probability that a randomly selected teacher makes less than $52,000 per year? 0.2389
b. If we sample 100 teachers’ salaries, what is the probability that the sample mean is less than $56,000?
DistributionThe 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...
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Jehal Shah
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