For a random variable x, a new random variable y can be created by applying a linear transformation y a bx, where a and b are constants. If the random variable xhas mean and standard deviation o,, then the mean, variance and standard deviation of y are given by the following formulas.-a+b 2y=b?o2xGy bloxThe mean annual salary for employees at a company is $39,000. At the end of the year, each employee receives a $1000 bonus and a 4% raise (based on salary).What is the new mean annual salary (including the bonus and raise) for the employees?The new mean annual salary is $

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Asked Oct 19, 2019

I have no idea how to solve this. This was not covered at all in my text.

For a random variable x, a new random variable y can be created by applying a linear transformation y a bx, where a and b are constants. If the random variable x
has mean and standard deviation o,, then the mean, variance and standard deviation of y are given by the following formulas.
-a+b 2y=b?o2x
Gy blox
The mean annual salary for employees at a company is $39,000. At the end of the year, each employee receives a $1000 bonus and a 4% raise (based on salary).
What is the new mean annual salary (including the bonus and raise) for the employees?
The new mean annual salary is $
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For a random variable x, a new random variable y can be created by applying a linear transformation y a bx, where a and b are constants. If the random variable x has mean and standard deviation o,, then the mean, variance and standard deviation of y are given by the following formulas. -a+b 2y=b?o2x Gy blox The mean annual salary for employees at a company is $39,000. At the end of the year, each employee receives a $1000 bonus and a 4% raise (based on salary). What is the new mean annual salary (including the bonus and raise) for the employees? The new mean annual salary is $

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Step 1

From the given information, the mean annual salary for employees at a company is $39,000, each employee receives a $1000 bonus at end of the year and there is 4% raise based on salary.

 

Let us define the random variable X as the annual salary of employees with mean salary µx=39,000 and there is a ...

mean salary increment = a+ b
=1000+(0.04 x 39000)
=2,560
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mean salary increment = a+ b =1000+(0.04 x 39000) =2,560

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