Professors at a Local University Earn an Average Salary of $80,000

question 43

Multiple Choice

Professors at a local university earn an average salary of $80,000 with a standard deviation of $6,000. The salary distribution is approximately bell-shaped. What can be said about the percentage of salaries that are at least $74,000?

• A) It is about 68%.
• B) It is about 84%.
• C) It is about 95%.
• D) It is about 97.5%.

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Definitions:

CCA Class

Denotes the category of depreciable property a business asset falls into in Canada, determining the rate of depreciation for tax purposes.

Net Advantage to Leasing

The total financial benefit of leasing an asset, comparing the costs of leasing versus buying.

Resale Value

The estimated market value at which an asset can be sold in the future.