You have chosen a finance major because you would like to be an investment banker. You think that your chance of getting...
You have chosen a finance major because you would like to be an investment banker. You think that your chance of getting a well-paid job in an investment bank is about 20 per cent. If you get the job you will have a starting salary of $300,000 per year.
However, if you don't make the cut then you will work at a fast food outlet for $40,000 per year. What is the standard deviation of your expected starting salary?
Homework Answers
Answer:
The Standard Deviation of expected starting salary is $104,000
Detailed working is appended below. For the sake of convenience, 000s are omitted in the computation.
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You have chosen a finance major because you would like to be an investment banker. You think that your chance of getting...
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