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Builtrite Furniture has calculated the average weekly payroll to be $16,000 with a standard deviation of $4,000. The Tempe store manager will receive a small
Builtrite Furniture has calculated the average weekly payroll to be $16,000 with a standard deviation of $4,000. The Tempe store manager will receive a small bonus if she keeps wages low. To qualify for the bonus, wages have to be in the bottom 10%. What is the highest dollar amount of wages that can be paid for the week so the manager will receive her bonus? (Assume a normal distribution.)
How can I solve this with a calculator using Normal Cdf?
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