Normal distribution with standard deviation

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Reference no: EM1311676

Question 1: Conde Nast Traveler publishes a Gold List of the top hotels all over the world. The Broad moor Hotel in Colorado Springs contains 700 rooms and is on the 2004 Gold List (Conde Nast Traveler, January 2004). Suppose Broad moor's marketing group forecasts a demand of 670 rooms for the coming weekend. Assume that demand for the upcoming weekend is normally distributed with a standard deviation of 30.

a. What is the probability all the hotel's rooms will be rented (to 4 decimals)?

b. What is the probability 50 or more rooms will not be rented (to 4 decimals)?

Question 2: According to Advertising Age, the average base salary for women working as copywriters in advertising firms is higher than the average base salary for men. The average base salary for women is $67,000 and the average base salary for men is $65,500 (Working Woman, July/August 2000). Assume salaries are normally distributed and that the standard deviation is $7000 for both men and women.

a. What is the probability of a woman receiving a salary in excess of $75,000 (to 4 decimals)?

b. What is the probability of a man receiving a salary in excess of $75,000 (to 4 decimals)?

c. What is the probability of a woman receiving a salary below $50,000 (to 4 decimals)?

d. How much would a woman have to make to have a higher salary than 99% of her male counterparts (0 decimals)?

Reference no: EM1311676

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