Assume that the average annual salary for a worker in the United States is $36,0

Question

Assume that the average annual salary for a worker in the United States is $36,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $7,000. Find the following:

(A) What percentage of Americans earn below $26,000?
(B) What percentage of Americans earn above $39,000? Assume that the average annual salary for a worker in the United States is $36,000 and that the annual salaries for Americans are normally distributed with a standard deviation equal to $7,000. Find the following:

(A) What percentage of Americans earn below $26,000?
(B) What percentage of Americans earn above $39,000?

Explanation / Answer

Z score is (x- mean)/standard deviation. A) z=(26,000- 36,000)/7,000= - 1.43 B) z= (39,000-36,000)/7,000= 0.43 Looking up these scores in a Z (normal curve) table we get A) .0764= 7.64% B) .3336= 33.36%

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

---