Answer:
0.0668 = 6.68% probability that the worker earns more than $8.00
Step-by-step explanation:
When the distribution is normal, we use the z-score formula.
In a set with mean
and standard deviation
, the zscore of a measure X is given by:

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
The average hourly wage of workers at a fast food restaurant is $7.25/hr with a standard deviation of $0.50.
This means that 
If a worker at this fast food restaurant is selected at random, what is the probability that the worker earns more than $8.00?
This is 1 subtracted by the pvalue of Z when X = 8. So



has a pvalue of 0.9332
1 - 0.9332 = 0.0668
0.0668 = 6.68% probability that the worker earns more than $8.00
Answer:
3/5<6/8
Step-by-step explanation:
6/8=3/4
Answer:
FV= $160.68
Step-by-step explanation:
Giving the following information:
Initial investment= $150
Interest rate= 3.5% compounded annually
Number of periods= 2
T<u>o calculate the future value, we need to use the following formula:</u>
FV= PV*(1+i)^n
PV= present value
i= interest rate
n= number of periods
FV= 150*(1.035^2)
FV= $160.68