Control the probability using Normal distribution.
As-per to Advertising Age the average base salary for women working as copypreparers in advertising firms is higher than the average base salary for men. The average base salary for women is $67,000 as well as the average base salary for men is $65,500 (Working Women, July/August 2000). Assume salaries are usually distributed and that the standard deviation is $7000 for both men and women.
1) describe what is the probability of a woman receiving a salary in excess of $75,000.
2) describe what is the probability of a man receiving a salary in excess of $75,000.
3) describe what is the probability of a woman receiving a salary below $50,000.
4) describe how much would a woman have to make to have a higher salary than 99% of her male counterparts?