Question

All answers are being calculated using Excel and work must be shown. Bank tellers report that...

All answers are being calculated using Excel and work must be shown.

Bank tellers report that when deciding on where to work, career growth, salary and compensation, location and commute, and company culture and values are important factors to them. According to a blog “25 Highest Paying Companies” the mean monthly pay of bank tellers is $4648. Suppose that the monthly pay is normally distributed with a standard deviation of $400.

Ninety nine percent of the monthly pays are higher than what value?

Math   Statistics-And-Probability   
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Homework Answers

Answer #1

The answer is:

3,717.46085038366

The formula to calculate in excel is:

=NORM.INV(1-0.99,4648,400)

The following is obtained graphically:

Please do upvote if you are satisfied! Let me know in the comments if anything is not clear. I will reply ASAP!

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