This is a question on my worksheet that I'm not sure how to start:
If you know that the mean salary for your profession is $\$45000$ with a standard deviation of $\$2000$, to what percentile does your salary of $\$41240$ correspond?
This is a question on my worksheet that I'm not sure how to start:
If you know that the mean salary for your profession is $\$45000$ with a standard deviation of $\$2000$, to what percentile does your salary of $\$41240$ correspond?
How many standard deviations below the mean is $41200?$ Now look up in a z-score table what percentage of the area is below that. You are making the assumption (which is expected, but badly wrong) that salaries are normally distributed.