Suppose That,on Average,electricians Earn Approximately µ = $54,000 Per Year

question 120

Multiple Choice

Suppose that,on average,electricians earn approximately µ = $54,000 per year in the United States.Assume that the distribution for electricians' yearly earnings is normally distributed and that the standard deviation is σ = $12,000.What is the probability that the average salary of four randomly selected electricians is less than $50,000?

• A) 0.2514
• B) 0.3707
• C) 0.6293
• D) 0.7486

---

Definitions:

Account Value

The total worth of a financial account, considering all assets and liabilities within the account.

Interest Rate

The percentage of a sum of money charged for its use, typically expressed annually.

Compound Interest

Interest earned on the base principal and on the interest accumulated during previous periods for both deposits and loans.

Simple Interest

Interest calculated only on the principal amount, or the initial amount of money borrowed or invested, not on the interest accumulated over time.