Estimate the fraction of employees

Reference no: EM13100096

The weekly salary paid to employees of a small company that supplies part-time labourers averages $700 with a standard deviation of $400.

a.) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than $300 per week.

b.) If every employee receives a year-end bonus that adds $100 to the pay check in the final week, how does this change the normal model for that week?

c.) If every employee receives a 5% salary increase for the next year, how does the normal model change?

d.) If the lowest salary is $300 and the median salary is $500, does a normal model appear appropriate?

Reference no: EM13100096

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