Question

# The Kamp family has twins, Rob and Rachel. Both Rob and Rachel graduated from college 2...

The Kamp family has twins, Rob and Rachel. Both Rob and Rachel graduated from college 2 years ago, and each is now earning \$50,000 per year. Rob is an engineer. The mean salary for engineers with less than 5 years’ experience is \$60,000 with a standard deviation of \$5,000. Rachel works in the retail industry, where the mean salary for executives with less than 5 years’ experience is \$35,000 with a standard deviation of \$8,000.

1. Compute the z values for both Rob and Rachel. (Round your answers to 2 decimal places. Negative amount should be indicated by a minus sign.)

Rob:

Rachel:

Adjusting for their industries, Rob is well ________ (Above/Below) average and Rachel well _________ (above/below)

Rob:

Here, μ = 60000, σ = 5000 and x = 50000. We need to compute P(X <= 50000). The corresponding z-value is calculated using Central Limit Theorem

z = (x - μ)/σ
z = (50000 - 60000)/5000 = -2

Rachel:

Here, μ = 35000, σ = 8000 and x = 50000. We need to compute P(X <= 50000). The corresponding z-value is calculated using Central Limit Theorem

z = (x - μ)/σ
z = (50000 - 35000)/8000 = 1.88

Adjusting for their industries, Rob is well Below average and Rachel well above average

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