How to solve this question on Microsoft Excel
The annual commissions earned by sales representatives ofMachine Products Inc., a manufacturer of light machinery, followthe normal distribution. The mean yearly amount earned is $40,000and the standard deviation is $5000.
a. What percentage of sales representatives earn between $32,000and $42,000 per year?
b. What percentage of sales representatives earn more than$42,000 per year?
c. The sales manager wants to award the sales representativeswho earn the largest commissions a bonus of $1000. He can award abonus to 20% of the representatives. What is the cutoff pointbetween those who earn a bonus and those who do not?
