The Salaries at a Corporation Are Normally Distributed with an Average

question 29

Short Answer

The salaries at a corporation are normally distributed with an average salary of $19,000 and a standard deviation of $4,000.
a.What is the probability that an employee will have a salary between $12,520 and $13,480?
b.What is the probability that an employee will have a salary more than $11,880?
c.What is the probability that an employee will have a salary less than $28,440?

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Definitions:

Job Evaluation

The systematic process of determining a job's relative worth within an organization to inform compensation decisions.

Job Evaluation Process

A systematic approach to determining the relative worth of jobs within an organization to establish fair pay and grading levels.

Key Procedures

Essential and established methods or steps followed to complete a specific task or to achieve a particular objective within an organization.

Living Wage

A wage that is high enough to maintain a normal standard of living, covering an individual's or family's basic costs of living.