Question 14: The average monthly income from commissions for a used car salesper

Question

Question 14: The average monthly income from commissions for a used car salesperson working at TWL follows a normal distribution with a mean of $5000 dollars and standard deviation of $3100 dollars. What is the probability that the monthly income from commissions of a randomly selected used car salesperson is more than $3000 dollars? (a) 25.78% (b) 48.43% (c) 51.57% (d) 74.22% Question 15: The average monthly income from commissions for at THX follows a normal distribution with a mean of $2500 dollars and standard deviation of $1550 dollars. What is the probability that the monthly income from used car salesperson is exactly $1500 dollars? car salesper rking sions of a randomly selected (a) 0.00% (b) 25.78% (c) 51.57% (d) 74.22%

Explanation / Answer

14

Mean = 5000

S.D. = 3100

P( X > 3000)

Z = (X - ) /
Z = (3000 - 5000) / 3100

Z = -0.64516

From Z score table

P( X > 3000) = P( Z > -0.645) = 0.7406

D) 74.22 %

15

Mean = 2500

S.D. = 1550

P( X = 1550)

X is a uniform random variable

so that

P( X = 1550) = 0.00%

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