Wages The employees of a large corporation are paid an average wage of $14.50 per hour with a standard deviation of $1.50. Assume that these wages are normally distributed. (a) Use a symbolic integration utility to approximate the percent of employees who earn hourly wages of $11 to $14. (b) Are 20% of the employees paid more than $16 per hour?

Q: Expert Answer

(a) To determine To calculate: The approximate percentage of employee who is earning hourly wages of $ 11 to $14 with the use of symbolic integration utility. If the employee of a corporation paid an average of $ 14.5 per hour and standard deviation of $ 1.50 it is assume that the wages are normally distributed. Explanation Given Information: The employee of a corporation paid an average of $ 14.5 per hour and standard deviation of $ 1.50 it is assume that the wages are normally distributed. Formula used: The normal probability density function is given by, f ( x ) = 1 σ 2 π e − ( x − μ ) 2 2 σ 2 , − ∞ < x < ∞ Where, μ is the mean, σ is the standard deviation. Calculation: Consider the provided probability density function, f ( x ) = 1 σ 2 π e − ( x − μ ) 2 2 σ 2 , − ∞ < x < ∞ From the provided information the value of the mean is μ = $ 14.5 , the value of standard deviation σ = $ 1.50 . Now, substitute the values of mean μ = $ 14.5 , standard deviation σ = $ 1.50 in the above formula as, f ( x ) = 1 1.5 2 π e − ( x − 14 (b) To determine Whether 20 % of the employee are getting more than $ 16 per hour. If the employee of a corporation paid an average of $ 14.5 per hour and standard deviation of $ 1.50 it is assume that the wages are normally distributed.

Question

Still sussing out bartleby?

Answer 1

BuyFind

Calculus: An Applied Approach (Min...

10th Edition

Ron Larson

Publisher: Cengage Learning

ISBN: 9781305860919

Solutions

Chapter

Section

Answer 2

BuyFind

Calculus: An Applied Approach (Min...

10th Edition

Ron Larson

Publisher: Cengage Learning

ISBN: 9781305860919

Solutions

Chapter

Section

Answer 3

Solutions

Chapter

Section

Answer 4

Chapter

Section

Answer 5

(a)

To determine

To calculate: The approximate percentage of employee who is earning hourly wages of $11 to $14 with the use of symbolic integration utility. If the employee of a corporation paid an average of $14.5 per hour and standard deviation of $1.50 it is assume that the wages are normally distributed.

Explanation of Solution

Given Information:

The employee of a corporation paid an average of $14.5 per hour and standard deviation of $1.50 it is assume that the wages are normally distributed.

Formula used:

The normal probability density function is given by,

f(x)=1σ2πe−(x−μ)22σ2, −∞<x<∞

Where, μ is the mean, σ is the standard deviation.

Calculation:

Consider the provided probability density function,

f(x)=1σ2πe−(x−μ)22σ2, −∞<x<∞

From the provided information the value of the mean is μ=$14.5, the value of standard deviation σ=$1.50.

Now, substitute the values of mean μ=$14.5, standard deviation σ=$1.50 in the above formula as,

f(x)=11.52πe−(x−14

Answer 6

(b)

To determine

Whether 20% of the employee are getting more than $16 per hour. If the employee of a corporation paid an average of $14.5 per hour and standard deviation of $1.50 it is assume that the wages are normally distributed.

Calculus: An Applied Approach (Min...

Solutions

Calculus: An Applied Approach (Min...

Explanation of Solution

Still sussing out bartleby?

The Solution to Your Study Problems

Chapter 9 Solutions

Additional Math Textbook Solutions