The Mean Life of Pair of Shoes Is 40 Months

question 60

Multiple Choice

The mean life of pair of shoes is 40 months with a standard deviation of 8 months.If the life of the shoes is normally distributed,how many pairs of shoes out of one million will need replacement before 36 months?

• A)500,000
• B)808,500
• C)191,500
• D)308,500
• E)705,100

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Definitions:

Job Evaluation

The systematic process for assessing the relative worth of jobs within an organization to establish a fair and equitable pay structure.

Pay for Knowledge

A compensation system where employees are paid based on the range and depth of their skills and knowledge, rather than strictly on their job position or seniority.

Performance Pay

Compensation model where employees are rewarded based on their job performance, including quality and efficiency, often used as an incentive to enhance productivity.

Compensation Mechanism

A system or method used to determine and distribute salary, benefits, and other forms of pay to employees in exchange for their work.