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

question 22

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 dollars.What is the probability that the average salary of four randomly selected electricians is more than $50,000 but less than $60,000?

• A) 0.5899
• B) 0.7486
• C) 0.8413
• D) 0.9048

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Definitions:

Distribution

The process of delivering products, goods, or services from the production point or supplier to the end consumer.

Price Adjustment Contract

A contractual agreement that allows for changes in the price based on certain conditions or indices, often used to account for inflation or cost increases.

Economic Changes

Adjustments or shifts in the conditions of an economy, affecting factors like prices, jobs, and wealth distribution.

Currency Values

The worth of different forms of money in terms of one another, impacting international trade and economics.