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Homework Statement
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?
Homework Equations
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The Attempt at a Solution
None, need urgent help!