Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 19, 2024

Monthly salary X in a small organisation is normally distributed with mean Rs . 3 0 0 0 and standard deviation of Rs . 2

Monthly salary X in a small organisation is normally distributed with

mean Rs

. 3000

and standard deviation of Rs

. 250 .

What should be the

minimum salary of a worker in this organisation, so that the probability

that he belongs to top

5 %

workers?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

Small Business Management Launching and Growing New Ventures

Authors: Justin Longenecker, Leo Donlevy, Terri Champion, William Petty, Leslie Palich, Frank Hoy

6th Canadian edition

176532218, 978-0176532215

More Books

Students also viewed these Finance questions

Question

★★★★★

Why are earnings valuations considered the best indicator of a businesss worth? How do cash flow techniques incorporate earnings into their models?

Answered: 1 week ago

Question

★★★★★

Problem 14-13 Calculating the WACC [LO3] Dani Corporation has 5 million shares of common stock outstanding. The current share price is $65, and the book value per share is $4. The company also has...

Answered: 1 week ago

Question

★★★★★

b. If the company were able to sell stock at $19 per share, what would be the maximum amount it could raise under its existing authorization, including Treasury shares?

Answered: 1 week ago

Question

★★★★★

Bella Company is considering purchasing new equipment for $450,000. It is expected that the equipment will produce net annual cash flows of $50,000 over its 10-year useful life. Annual depreciation...

Answered: 1 week ago

Question

★★★★★

Monthly salary X in a small organisation is normally distributed with mean Rs . 3 0 0 0 and standard deviation of Rs . 2 5 0 . What should be the minimum salary of a worker in this organisation, so...

Answered: 1 week ago

Question

★★★★★

Based on the intormaton in the table below, prepare comparative balance sheets tor Windswept Woodworks, Inc. tor years 1 and 2(Round your answers to the nearest whole number.) Windswept Woodworks,...

Answered: 1 week ago

Question

★★★★★

On December 31, Mars Company had the following portfolio of stock investments with insignificant influence. Mars had no stock investments in prior periods. Prepare the December 31 adjusting entry to...

Answered: 1 week ago

Question

★★★★★

Required information Problem 4-3A Prepare the bank reconciliation and record cash adjustments (L04-5) [The following information applies to the questions displayed below.) The cash records and bank...

Answered: 1 week ago

Question

★★★★★

The real risk-free rate (r) is 2.8% and is expected to remain constant. Inflation is expected to be 7% per year for each of the next two years and 6% thereafter. The maturity risk premium (MRP) is...

Answered: 1 week ago

Question

★★★★★

"Innovative ideas are always prominence in entrepreneurship". Briefly explain any FIVE (5) methods to generate new ideas for business. Explain 5 reason why can other companies just copy 3M's...

Answered: 1 week ago

Question

★★★★★

Clooney Corp, establishes a petty cash fund for $225 and issues a credit card to its office manager. By the end of the month, employees made one expenditure from the petty cash fund (entertainment,...

Answered: 1 week ago

Previous Question Next Question