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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,the probability is 0.25 that John's income as a waiter is no more than how much in a given month?
Government Quota
A limit set by the government on the quantity of a good that can be produced or imported, often used to protect domestic industries.
Quantity Control
Regulatory measures or policies used to limit the amount of a good or service that is produced or sold in a market.
Medicare Reimbursement
The payments made by the Medicare program to healthcare providers for services rendered to Medicare beneficiaries, based on predetermined rates.
Minimum Wage
The lowest hourly, daily, or monthly remuneration that employers may legally pay to workers, aimed at protecting the earning ability of workers.
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