Answer:
Salary: $90,500
Step-by-step explanation:
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.
In this problem, we have that:
An employee was having their annual appraisal and the manager indicated that the employee salary for next year has a Z-score of 1.24. Approximately how much will this employee be paid next year in salary?
This is X when . So
Rouded to the nearest hundred of dollars:
Salary: $90,500