Help, could someone me answer the following statistics questions

[Tek1Atom]

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

Statistics

The Attempt at a Solution

None, need urgent help!

 

[Mark44]

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

Statistics

The Attempt at a Solution

None, need urgent help!

Let X be the random variable that represents employee salaries. From the given information X is N(30,000, 2000). What random variable represents the bonuses?

 

[Tek1Atom]

Let Y be the random variable that represents the bonuses