# Determining Employee Expenditure Using Probability

Not what you're looking for?

If you are asked to calculate the probability that a randomly selected employee's expenditure is exactly $5, what will be your answer? Why? Will your answer be the same for any individual expenditure? Assume that population of all employee expenditures follow a normal distribution.

Could you set up an equation to find the z score, and with that identify the probability? Please show calculations.

##### Purchase this Solution

##### Solution Summary

The expert determines employee expenditures using probability. The individual expenditures are determined.

##### Solution Preview

The probability that a randomly selected employee's expenditure is exactly $5 will be 0, and yes, my answer would be the same (the probability would be 0) for any individual (specific) expenditure (i.e., if you asked the exact same question but replaced the $5 expenditure amount with $8 or $12 or any other specific dollar amount the probability that a randomly selected employee's expenditure would be that exact amount would be 0). There are two ways to explain this: (1) the definition of how to calculate a probability like P[1.27<Z<2.25] involves an integral whose lower limit is 1.27 and whose upper limit is 2.25. Then a ...

##### Purchase this Solution

##### Free BrainMass Quizzes

##### Measures of Central Tendency

This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.

##### Know Your Statistical Concepts

Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.

##### Measures of Central Tendency

Tests knowledge of the three main measures of central tendency, including some simple calculation questions.

##### Terms and Definitions for Statistics

This quiz covers basic terms and definitions of statistics.