The weekly wages of 1000 workmen are normally distributed around a mean of 70₹ and with a standard deviation of 5₹.Estimate the lowest wages of the 100 highest paid workers?
Answers
Explanation:
The weekly wages of 1000 workers are normally distributed with a mean of Rs. 70 and standard deviation of Rs. 5. What is the number of workers whose weekly wages will be more than 80?
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It says it is normal distribution which means the value of the wages follow the curve below. Mean is given as 70 INR so it represents the biggest vertical line in the centre.
SD is given as 5 INR so that just means that around 68.26% of workers have their wages between -5 to +5 of the mean (65-75 INR) and 95.44% between -10 to +10 of the mean (60-80 INR)
You want to know the number of workers getting more than 80 INR ..that is the region after second standard deviation (the portion that is represented from 2 in the graph above) which is 2.15% + .13% = 2.28%
Around 22.8 people (approx 23) :D
hope i was clear in my explanation