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

question 40

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,the probability is 0.75 that John's commission from the jewellery store is less than how much in a given month?

Distinguish between legal and ethical obligations in nursing practice.

Recognize the role of values in nursing and their impact on care delivery.

Understand the key principles and procedures in patient scheduling and management.

Recognize and respect patient rights and the legal requirements for consent and information release.

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Definitions:

Quarterly Compounding

A financial process where interest is added to the principal sum of a deposit or loan at the end of each quarter, resulting in the interest bearing interest.

Effective Annual Rate

The annual return on an investment or loan taking compounding into account, expressed as a percentage.

Compounded Annually

This is an interest calculation method where interest is added to the principal once a year.

Effective Rate

The actual interest rate of an investment or loan, taking into account the effects of compounding.