Question

Exhibit 6-4The starting salaries of individuals with an MBA degree are normally distributed with a mean of $40,000 and a standard deviation of $5,000.Refer to Exhibit 6-4. What is the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $30,000?

Answer 1

Given:

Normally distributed = $40,000

a standard deviation= $5,000.

Required:

Find the probability that a randomly selected individual with an MBA degree will get a starting salary of at least $30,000.

Step-by-step explanation:

The probability formula when the mean and standard deviation is known:

`P(x)=P(\frac{x-mean}{standard\text{ deviation}})`
`\begin{gathered} P(x\ge30k)=P((30k-40k)/(5k)) \\ \begin{equation*} P(x\ge30k)= \end{equation*} \end{gathered}`