Question

At a recent job fair, Intel boasted that they paid master's graduates more than 90% of all

Answer 1

Complete Question

A recent study found that hourly wages earned by employees possessing a master's degree are distributed normally with a mean of $27.50 and standard deviation of $3.50

At a recent job fair, Intel boasted that they paid master's graduates more than 90% of all

employers. If we interpret their claim as a percentile, what hourly wage must they offer employees with master's degrees?

Answer:

The value is $x = \ 31.986$

Step-by-step explanation:

From the question we are told that they paid master's graduates more than 90% of all

Generally from the z-table the z-score for 90% is $z = 1.282$

This z-score can be mathematically represented as

$z = \frac{x - \mu }{\sigma}$

Here x is the hourly wage they offer  employees with master's degrees

substituting  $27.50 for  $\mu$ and   $3.50  for  $\sigma$  we have

       $1.282 = \frac{x - 27.50 }{3.50}$

=> $x = \ 31.986$