Assuming that workers' salaries in your company are uniformly distributed between $10,000 and $40,000 per year. Find the amount of money that 25% of the workers make more than that value?
Assuming that workers' salaries in your company are uniformly distributed between $10,000 and $40,000 per year. Find the amount of money that 25% of the workers make more than that value?
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.58TI: What is the total effect on the economy of a government tax rebate of $500 to each household in...
Related questions
Concept explainers
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
Topic Video
Question
- Assuming that workers' salaries in your company are uniformly distributed between $10,000 and $40,000 per year. Find the amount of money that 25% of the workers make more than that value?
Expert Solution
Step 1
X is uniformly distributed between (10000,40000).
P(x>X) = 0.25, find x
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, probability and related others by exploring similar questions and additional content below.Recommended textbooks for you