Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Builtrite has calculated the average daily cash flow to be $54,000 with a standard deviation of $4000. The store manager will receive their $500 weekly
Builtrite has calculated the average daily cash flow to be $54,000 with a standard deviation of $4000. The store manager will receive their $500 weekly bonus if the daily cash flow falls in the top 4%. What is the daily cash flow amount that would give the manager their bonus? (Assume a normal distribution.)
Builtrite has calculated the average daily cash flow to be $54,000 with a standard deviation of $4000. The store manager will receive their $500 weekly bonus if the daily cash flow falls in the top 4%. What is the daily cash flow amount that would give the manager their bonus? (Assume a normal distribution.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started