Suppose the annual employer 401(k) cost per participant is normally distributed with a standard deviation of $625,

Question:

Suppose the annual employer 401(k) cost per participant is normally distributed with a standard deviation of $625, but the mean is unknown.

a. If 73.89% of such costs are greater than $1,700, what is the mean annual employer 401(k) cost per participant?

b. Suppose the mean annual employer 401(k) cost per participant is $2,258 and the standard deviation is $625. If such costs are normally distributed, 31.56% of the costs are greater than what value?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Business Statistics for Contemporary Decision Making

ISBN: 978-0470910184

6th Edition

Authors: Ken Black

See More Books

Question Posted: Mar 19, 2013 04:21 AM

See More Questions

A population of scores is normally distributed with a standard deviation equal to 7. State whether the standard error will increase, decrease, or remain unchanged if the value of the population...
A random variable X is normally distributed with a mean of 100 and a variance of 100 and a random variable Y is normally distributed with a mean of 200 and a variance of 400. The random variables...
A random variable X is normally distributed with a mean of 100 and a variance of 100, and a random variable Y is normally distributed with a mean of 200 and a variance of 400. The random variables...
Consider the many moments of joy in the movie. Why include them? What risky acts of courage do Katherine, Mary and Dorothy take? How are they rewarded? The film shows the strong relationships that...
In Exercises 1-2, compute the adjugate of the given matrix, and then use Theorem 8 to give the inverse of the matrix. 1. 2. 101 1 1 31 2 -21
CASE SCENARIO You have just been hired as a new management trainee by Bahrain Company, a distributor of earrings to various retail outlets located in shopping malls across the country. In the past,...
3 Visite Amazon.com (www.amazon.com) o Barnes & Noble (www.barnesandnoble.com). Mientras recorre el sitio web de la empresa, piense en cmo se comparan la bsqueda y la compra de libros en lnea con una...
Mountain View Manufacturing Co. maintains the following accounts in the general ledger: Materials, Work in Process, Factory Overhead, and Accounts Payable. On July 1, the materials account had a...
Question 2 of 3 - / 13 View Policies Current Attempt in Progress A comparative statement of financial position for Sarasota Industries Inc. follows: SARASOTA INDUSTRIES INC. Statement of Financial...
Locate Revenue Ruling 2018-20. Explain the effect of that ruling on previous Treasury Department pronouncements.
Suppose you are working with a data set that is normally distributed, with a mean of 200 and a standard deviation of 47. Determine the value of x from the following information. a. 60% of the values...
Suppose the standard deviation for Problem is unknown but the mean is still 22 feet. If 72.4% of all U.S. Class A warehouses have a clear height greater than 18.5 feet, what is the standard deviation?
A 772 mL container has a mixture of 2.99 g of H2 and 44.2 g of Xe at 388 K. What are the partial pressures of the gases and the total pressure inside the container?
# III: Worksheet 3 1. A 20 kg mass is allowed to accelerate down a frictionless 15 ramp. 20 kg 15 a. Draw a force diagram for the block. b. Determine the value of the x-component of the force of...
3.Baker Corporation has provided the following production and average cost data for two levels of monthly production volume. The company produces a single product Production Volume: 1,000 units:...
Suppose that you own the only company in the market to produce a certain product, and therefore you can determine the market price P dollars for each unit. Due to government regulations, the price of...
describes how the blast pressure front can bounce off solid, immovable obstacles and be redirected in another direction in a linear angle to the angle of the obstacle hat was struck
As the accounting clerk, you are tasked by the CFO to determine the cost of goods sold of Del Mundo Company for the year ended December 31, 2020. During Operating cost data annd inventory account...
Swanson Corporation purchased land from Clayton Corporation for $\$ 240.000$ on December 20 . 20X3. This purchase followed a series of transactions between subsidiaries controlled by Swanson. On...
Why is it necessary to study the diffusion of molecules in biological systems?
What distinguishes intellectual property from other types of property, such as land, buildings, and inventory? Provide several examples of intellectual property and describe their importance to a...
Assume that a study has shown that about half of all Canadian workers who change jobs cash out their pension plans rather than leaving the money in the account to grow. The percentage is much higher...
In a recent survey, buyers were asked a series of questions with regard to Internet usage. One question asked was how they would use the Internet if security and other issues could be resolved....
Over three decades ago, four businesspeople who had experience in retailing natural foods through food stores believed that there was a demand for a supermarket for natural foods. As a result, in...
Calculate the current ratio and the quick ratio for the following partial financial statement for Tootsie Roll Note: Round your answers to the nearest hundredth
Required information Skip to question [ The following information applies to the questions displayed below. ] Golden Corporation's current year income statement, comparative balance sheets, and...
Glencove Company makes one model of radar gun used by law enforcement officers. All direct materials are added at the beginning of the manufacturing process. Information for the month of September...

Suppose the annual employer 401(k) cost per participant is normally distributed with a standard deviation of $625,

Question:

Step by Step Answer:

s 625 a If 7389 of the values are greater than 1700 then 2389 or 23...View the full answer

Business Statistics for Contemporary Decision Making

Students also viewed these Statistics questions