Christopher opened a savings account with $1800 that pays no interest. He deposits an additional $90 each week thereafter. How m
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Answer:
And if we solve for a we got
And for this case the answer would be 35185 the lowest 1% for the salary
Step-by-step explanation:
Let X the random variable that represent the salary, and for this case we can assume that the distribution for X is given by:
Where and
And we want to find a value a, such that we satisfy this condition:
(a)
(b)
We can use the z score again in order to find the value a.
As we can see on the figure attached the z value that satisfy the condition with 0.01 of the area on the left and 0.99 of the area on the right it's z=-2.33. On this case P(Z<-2.33)=0.01 and P(z>-2.33)=0.99
If we use condition (b) from previous we have this:
But we know which value of z satisfy the previous equation so then we can do this:
And if we solve for a we got
And for this case the answer would be 35185 the lowest 1% for the salary