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The Weekly Earnings of Fast-Food Restaurant Employees Are Normally Distributed

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The weekly earnings of fast-food restaurant employees are normally distributed with a mean of $395. If only 1.1% of the employees have a weekly income of more than $429.35, what is the value of the standard deviation of the weekly earnings of the employees?


Definitions:

All-Equity Firms

Companies that are financed entirely through equity without any debt.

Shares Outstanding

The total number of a company's shares of stock that are owned by shareholders including those held by institutional investors and restricted shares held by insiders and company officers.

Market Price

The existing rate at which one can buy or sell an asset or service in the market.

Incremental Value

The additional value created by undertaking a specific action, project, or investment, compared to not doing so.

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