Answer:
2.50%
Explanation:
To find the percentage of financial services companies that earned revenue greater than 35 million dollars, you need to use the standard normal distribution and the empirical rule. The empirical rule tells you that around 68% of values are within 1 standard deviation from the mean, around 95% of values are within 2 standard deviations from the mean, and around 99.7% of values are within 3 standard deviations from the mean.
First, you need to standardize the revenue value of 35 million dollars by converting it into a z score. A z score tells you how many standard deviations away from the mean a value is. The formula for z score is:
z = (x - M) / SD
where x is the value, M is the mean, and SD is the standard deviation.
Plugging in the given values, we get:
z = (35 - 80) / 22
z = -2.05
This means that 35 million dollars is 2.05 standard deviations below the mean.
Next, you need to use the empirical rule to find the percentage of values below this z score. Since 95% of values are within 2 standard deviations from the mean, and 35 million dollars is slightly more than 2 standard deviations below the mean, we can estimate that around 97.5% of values are below this z score. This means that only around 2.5% of values are above this z score.
Therefore, the percentage of financial services companies that earned revenue greater than 35 million dollars is approximately 2.5%. You can round this answer to the nearest hundredth and get 2.50%.