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Help, could someone please help me answer the following statistics questions |
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| Aug31-10, 02:07 PM | #1 |
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Help, could someone please help me answer the following statistics questions
1. The problem statement, all variables and given/known data
The average salary for an employee at ABC Ltd is £30,000 per year, with a variance of £4,000,000. This year, the management plans to award every employee a fixed end-of-year bonus of £500 and an incentive bonus that is equal to 10% of the employee's salary. a) What is the mean bonus received by employees? b) What is the standard deviation of the employees bonuses? 2. Relevant equations Statistics 3. The attempt at a solution None, need urgent help! |
| Aug31-10, 03:56 PM | #2 |
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Mentor
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| Aug31-10, 04:14 PM | #3 |
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Let Y be the random variable that represents the bonuses
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| mathematics, maths, statistics |
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