1. The annual sales commissions earned by sales representatives of a

1. The annual sales commissions earned by sales representatives of a manufacturer of light machineryfollow the normal probability distribution. The mean yearly amount earned is $40,000 and the standarddeviation us $5,000.a. What percent of the sales representatives earn more than $43,000 per year?b. What percent of the sales representatives earn between $37,000 and $43,000?c. The sales manager wants to award a bonus of $1,000 to the top 20% sales representatives who earn the largest commissions. What is the cut-off point between those who earn a bonus and those who do not? 2. The average cost per night of a hotel room in New York City is $275. Assume this estimate is based ona sample of 45 hotels and that the sample standard deviation is $60.a. With 95% confidence, what is the margin of error? b. What is the 95% confidence interval estimate of the population mean? c. What is the 99% confidence interval estimate of the population mean? d. Explain what happens to the margin of error and the confidence interval as the confidence level is increased? Math Statistics and Probability STATISTIK 1BK

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