For a random variable x, a new random variable y can be created by applying a li

Question

For a random variable x, a new random variable y can be created by applying a linear transformation y = a + bx, where a and b are constants. If the random variable x has mean ?? and standard deviation ?x, then the mean variance and standard deviation of y are given by the following formula The mean annual salary for employees at a company is $34,000. At the end of the year, each employee receives a $5000 bonus and a 4% raise (based on salary). What is the new mean annual salary (including the bonus and raise) for the employees? The new mean annual salary is $

Explanation / Answer

here as salary has been increased by 4% and bonus received per employee is 5000

therefire new mean annual salary =5000+34000*1.04=40360

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