Glenn Howell, VP of personnel for the Standard Insurance Company, has developed a new training program that is entirely self-paced. New employees work various stages at their own pace; completion occurs when the material is learned. Howell’s program has been especially effective in speeding up the training process, as an employee’s salary during training is only 67 percent of that earned upon completion of the program. In the last several years, average completion time of the program was 44 days, and the standard deviation was 12 days. (a) Find the probability an employee will finish the program in 33 to 42 days. (b) What is the probability of finishing the program in fewer than 30 days?
Glenn Howell, VP of personnel for the Standard Insurance Company, has developed a new training program that is entirely self-paced. New employees work various stages at their own pace; completion occurs when the material is learned. Howell’s program has been especially effective in speeding up the training process, as an employee’s salary during training is only 67 percent of that earned upon completion of the program. In the last several years, average completion time of the program was 44 days, and the standard deviation was 12 days. (a) Find the probability an employee will finish the program in 33 to 42 days. (b) What is the probability of finishing the program in fewer than 30 days?
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
Topic Video
Question
Glenn Howell, VP of personnel for the Standard Insurance Company, has developed a new training program that is entirely self-paced. New employees work various stages at their own pace; completion occurs when the material is learned. Howell’s program has been especially effective in speeding up the training process, as an employee’s salary during training is only 67 percent of that earned upon completion of the program. In the last several years, average completion time of the program was 44 days, and the standard deviation was 12 days.
(a) Find the
(b) What is the probability of finishing the program in fewer than 30 days?
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
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