Suppose the annual employer 401(k) cost per participant is normally distributed with a standard deviation of $625,
Question:
Suppose the annual employer 401(k) cost per participant is normally distributed with a standard deviation of $625, but the mean is unknown.
a. If 73.89% of such costs are greater than $1,700, what is the mean annual employer 401(k) cost per participant?
b. Suppose the mean annual employer 401(k) cost per participant is $2,258 and the standard deviation is $625. If such costs are normally distributed, 31.56% of the costs are greater than what value?
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s 625 a If 7389 of the values are greater than 1700 then 2389 or 23...View the full answer
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Related Book For
Business Statistics for Contemporary Decision Making
ISBN: 978-0470910184
6th Edition
Authors: Ken Black
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