A company pays its employees an average wage of $3.25 an hour with a standard deviation of sixty cents. If the wages are approximately normally distributed, determine
the minimum wage of the employees who are paid the highest 5%.
The Attempt at a Solution
.95=((x-3.25)/.6) which equals .57=x-3.25
therefore x=3.82. I feel like I didn't do this correctly and I can't finish the rest of my homework if I don't know what I'm doing. Thanks.