Hi, I am new to the forum and need help with a question from my daughter studying first year business, can anybody supply the answer below....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?