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assume that the salaries of elementary school teachers in a particular country are normally distributed with a mean of $38,000 and a standard deviation of $4,000. what is the lowest amount that a teacher needs to make and still be one of the top 7% earners? use excel, and round your answer to the nearest dollar.

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43920  is the lowest amount that a teacher needs to make and still be one of the top 7% earners with a mean of $38,000 and a standard deviation of $4,000

According to information provided to us, the pay for elementary school teachers in a certain nation is generally distributed, with a mean of $38,000 and a standard deviation of $4,000 per year.

To resolve the issue at hand, we shall make use of the normal distribution table. Finding the z-score corresponding to the top 7% or the 93% probability from the normal distribution table (0.93).

The normal distribution table provides us with the 1.48 z-score we need.

We will now solve for the sample score using the z-score formula as follows:

z = x - μ/σ

1.48 = x - 38,000/4000

1.48 × 4000 = x - 38,000

5920 = x - 38000

x = 5920+38000

x = 43920

To learn more about mean:

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