If the Wages of Workers for a Given Company Are

question 67

Multiple Choice

If the wages of workers for a given company are normally distributed with a mean of $15 per hour,then the proportion of the workers earning more than $13 per hour:

• A)Is greater than the proportion earning less than $13 per hour.
• B)Is greater than the proportion earning less than $18 per hour.
• C)Is less than 50 percent.
• D)Is less than the proportion earning more than the mean wage.

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Definitions:

Pure Discount Securities

Financial instruments that are sold at a discount from their face value and pay no interest until maturity, such as zero-coupon bonds.

Clean Price

The price of a bond excluding any interest that has accrued since issue or during the last coupon payment.

Dirty Price

The price of a bond that includes accrued interest, in contrast to the clean price which excludes it.

Accrued Interest

Interest that has accumulated over a period but has not yet been paid or received.