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Hi I am needing some help for my daughter with her first year business degree question, I have posted the question below? can anybody help thanks
The weekly salary paid to employees of a small company that supplies part-time laborers averages $700 with a standard deviation of $400.
1) If the weekly salaries are normally distributed, estimate the fraction of employees that make more than $300 per week.
2) If every employee receives a year-end bonus that adds $100 to the paycheck in the final week, how does this change the normal model for that week?
3) If every employee receives a 5% salary increase for the next year, how does the normal model change?
4) If the lowest salary is $300 and the median salary is $500, does a normal model appear appropriate?