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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
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
This z-score can be mathematically represented as
Here x is the hourly wage they offer employees with master's degrees
substituting $27.50 for and $3.50 for
we have
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