15.Math-Review.ppt

15.Math-Review Exercises Exercises Exercises Exercises Exercises Exercises Exercises Exercises Solutions Solutions * * Review 2 P1. Historical data indicates that the starting salary for a new MBA graduate in a leading management consulting firm can be modeled as a normal distribution with mean $90,000 and standard deviation $20,000. Second year salaries increase by 20%. The bonus each year, for the first and following years, can be modeled as a normal distribution with mean $25,000 and standard deviation $5,000. We assume that the bonus is independent of the initial salary increase. For t