Statistics for Business Decision Making

Answer the following:

The weekly salary paid to employees of a small company that supplies part-time laborers averages +800 with a standard deviation of +600.

(a) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than +300 per week.

(b) If every employee receives a year-end bonus that adds +200 to the paycheck in the final week, how does this change the normal model for that week?

mean

standard deviation

(c) If every employee receives a 10% salary increase for the next year, how does the normal model change?

mean

standard deviation

(d) If the lowest salary is +300 and the median salary is +500, does a normal model appear appropriate?