The salaries for all employees in a large company follow a normal distribution with a mean of $51,610 and a standard deviation of $4,130. (See the histogram for the distribution of the salaries below). Calculate all the answers below using the Normal Distribution, rather than the bar graph above. (a) What is the probability that a new hire in this company will have a salary less than $45,400? (Answer to 4 decimal places) (b) What is the probability that a new hire in this company will have a salary between $45,400 and $57,710? (Answer to 4 decimal places) (c) What should the salary of an employee be so that the employee's salary is in the top $5% of all salaries? (dollars) (Answer to 2 decimal places) (d) What salaries mark the middle 60% of all salaries in this company? Express the answer as a range or interval for the lower and upper limits to capture the middle 60% of all salaries. Round answers to 1 decimal place. Answer: The range of salaries between and mark the middle 60% of all salaries in this company.
The salaries for all employees in a large company follow a
(See the histogram for the distribution of the salaries below).
Calculate all the answers below using the Normal Distribution, rather than the bar graph above.
(a) What is the probability that a new hire in this company will have a salary less than $45,400?
(Answer to 4 decimal places)
(b) What is the probability that a new hire in this company will have a salary between $45,400 and $57,710?
(Answer to 4 decimal places)
(c) What should the salary of an employee be so that the employee's salary is in the top $5% of all salaries?
(dollars) (Answer to 2 decimal places)
(d) What salaries mark the middle 60% of all salaries in this company? Express the answer as a
Round answers to 1 decimal place.
Answer: The range of salaries between and mark the middle 60% of all salaries in this company.
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