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The salaries of pharmacy techs are normally distributed with a mean of $33,000 and a standard deviation of $4,000. What is the minimum salary to be considered the top 6%?



Answer :

$38360  is the minimum salary to be considered the top 6% by standard deviation.

What is standard deviation?

  • The term "standard deviation" (or "") refers to the degree of dispersion of the data from the mean.
  • Data are grouped around the mean when the standard deviation is low, and are more dispersed when the standard deviation is high.

We have here,

Z=    1.34        Z score corresponding to 9% area under standard normal distribution

Therefore,

 X = Z * σ + μ

      = [( 1.34 ) * ( 4000 ) + 33000] = 38360

X=$38360

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