Percent of the sales persons earn
The annual commissions per salesperson employed by a manufacturer of light machinery averaged $40,000 with a standard deviation of $5000. What percent of the sales persons earn between $32,000 and $42,000.
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Run a Monte Carlo simulation 1000 trials for the following distribution. Determine the mean and standard deviation of the simulated distribution.
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The annual commissions per salesperson employed by a manufacturer of light machinery averaged $40,000 with a standard deviation of $5000. What percent of the sales persons earn between $32,000 and $42,000
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Estimate the indicated probability by using the normal distribution as an approximation to the binomial distribution.
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