A recent graduate from a business college is hired by a marketing firm in sales. Her first
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A recent graduate from a business college is hired by a marketing firm in sales. Her first year’s estimated income is $35,000. She did research on starting salaries for similar positions and found that starting salaries are normally distributed with a mean of $33,500 and a standard deviation of $2,000. One day, she called a fellow alumnus who had a very similar position with a different firm and reported that his annual income was more than $50,000. Based on the research, what is the probability that a person would have a starting salary of $50,000 or more? What can you conclude?
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Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
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