Question
The salary is distributed between the employees according to N(3000,1000)N(3000,1000) distribution. But, the income has reduced. So, the manager decided to change the distribution of
The salary is distributed between the employees according to N(3000, 1000)N(3000, 1000) distribution. But, the income has reduced. So, the manager decided to change the distribution of the salary in such a way that this will be a different normal distribution with the mean of $2000. He supposed that he earned more than 80% of the staff. And now, he wants to keep his salary and this proportion.
What standard deviation should he use for the new distribution?
Step by Step Solution
3.56 Rating (156 Votes )
There are 3 Steps involved in it
Step: 1
The new distribution should have a standard deviation of 500 Explanation We can use the ...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 StartedRecommended Textbook for
Management Accounting
Authors: Leslie G. Eldenburg, Albie Brooks, Judy Oliver, Gillian Vesty, Rodney Dormer, Vijaya Murthy, Nick Pawsey
4th Edition
0730369382, 978-0730369387
Students also viewed these Accounting questions
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
Question
Answered: 1 week ago
View Answer in SolutionInn App