A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years. The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000, distributed normally. Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the highest 80% in a sampling of 80 employees. Round x¯ to two decimal places.
A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years. The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000, distributed normally. Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the highest 80% in a sampling of 80 employees. Round x¯ to two decimal places.
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 19PFA
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A company is offering 401k matching retirement plan for its employees who stay with the company for more than 10 years. The company's CFO finds that the average retirement account holds $490,000, with a standard deviation of $55,000, distributed normally.
Use Excel to calculate the amount of money that separates the lowest 20% of the means of retirement accounts from the highest 80% in a sampling of 80 employees.
Round x¯ to two decimal places.
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