Employees of Corporation A earn annual salaries described by a mean of $90,000 and a standard deviation of $10,000. A small minority of all salaries are less than what value?
Corporation A earn annual salaries
Mean = u = $90,000
standard deviation = s = $10,000
According to empirical rule 99.7% of salaries would fall within 3 standard devaitions of the mean.
which makes 0.3% of the salaries in minority
while 0./2 - 0.15% lower minority
Thus
u - 3*s = 90000 - 3*10000
= $ 60,000
so only 0.15% of the employees would receive a salary less than $ 60,000
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