Finding a source of supply for factory workers is especially difficult when a nation's unemployment rate ...

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Finding a source of supply for factory workers is especially difficult when a nation's unemployment rate is relatively low under these conditions available labor is scarce, and wages also tend to increase. According to Fortune, in April 1998 the average production worker in the United States earned $13.47 an hour, up 3.1% from a year earlier. Suppose production worker's wages are normally distributed with a standard deviation of $4,75. What percentage of nation's production workers earn;

1) between $11.00 and $15.00 an hour?

2) over $20.00 an hour?

3) What would you have to make to be in the top 5th percentile?

    • 8 years ago
    (a) μ = 13.47, σ = 4.75 z1 = (x1 – μ)/σ ...
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