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Suppose annual salaries for sales associates from a particular store have a mean of $32,500 and a standard deviation of $2,500.
a.Calculate and interpret the z-score for a sales associate who makes $36,000.
b.Use Chebyshev's theorem to calculate the percentage of sales associates with salaries between $26,250 and $38,750.
c.Suppose that the distribution of annual salaries for sales associates at this store is bell-shaped. Use the empirical rule to calculate the percentage of sales associates with salaries between $27,500 and $37,500.
d.Use the empirical rule to determine the percentage of sales associates with salaries less than $27,500.
e.Still suppose that the distribution of annual salaries for sales associates at this store is bell-shaped. A sales associate makes $42,000. Should this salary be considered an outlier? Explain.
Subject Matter
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Actions or activities that are forbidden by law and subject to criminal penalties or fines.
Implied Warranty
A legal term referring to unwritten guarantees that the goods being sold meet certain quality standards.
Express Warranty
A clearly stated guarantee promising specific attributes or performance criteria of a product or service.
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