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ISBN: 9781259957598

Author: DOANE

Publisher: RENT MCG

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Chapter 7.4, Problem 46SE

A ski resort pays its part-time seasonal employees on an hourly basis. At a certain mountain, the hourly rates have a normal distribution with σ = $3.00. If 20 percent of all part-time seasonal employees make more than $13.16 an hour, what is the average hourly pay rate at this mountain?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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Chapter 7.4, Problem 45SE

Chapter 7.4, Problem 47SE

Chapter 7 Solutions

APPLIED STAT.IN BUS.+ECONOMICS

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A ski resort pays its part-time seasonal employees on an hourly basis. At a certain mountain, the hourly rates have a normal distribution with σ = $3.00. If 20 percent of all part-time seasonal employees make more than $13.16 an hour, what is the average hourly pay rate at this mountain?

Solution Summary: The author calculates the average hourly pay rate of the part-time seasonal employees of a ski resort at the given mountain.

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