Instruction 6.2 John Has Two Jobs. for Daytime Work at a Jewellery

question 19

Short Answer

Instruction 6.2
John has two jobs. For daytime work at a jewellery store he is paid $15,000 per month, plus a commission. His monthly commission is normally distributed with mean $10,000 and standard deviation $2,000. At night he works as a waiter, for which his monthly income is normally distributed with mean $1,000 and standard deviation $300. John's income levels from these two sources are independent of each other.
-Referring to Instruction 6.2,for a given month,what is the probability that John's income as a waiter is between $800 and $900?

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Definitions:

Appreciated

The increased value of an asset or currency over time, often due to market or economic factors.

Return on Investment

A ratio that measures the gain or loss generated on an investment relative to the amount of money invested.

Pegged Exchange Rate

A fixed exchange rate system in which a currency's value is fixed against the value of another currency or a basket of other currencies.

Chinese Yuan

The official currency of the People's Republic of China, used as a medium of exchange in mainland China.