The industry average salary is $140,000, and the standard deviation of salaries in the industry is $20,000.
What is the probability that a single executive will earn $130,000 or more?
What is the probability that any sample mean of salaries of any 15 executives will be equal to or more than $130,000 per year?
See attached file for data.
This solution provides step by step calculations for probability and value for salaries.