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For a random variable x, a new random variable y can be created by applying a linear transformatio ...
For a random variable x, a new random variable y can be created by applying a linear transformation y=a+bx, where a and b are constants. If the random variable x has mean ?x? and standard deviation ?x?, then the mean, variance and standard deviation of y are given by the following formulas. ?y?=a+b?x??y2?=b2?x2??y?=?b??x? The mean annual salary for employees at a company is $35,000. At the end of the year, each employee receives a $3000 bonus and a 10% raise (based on salary). What is the new mean annual salary (including the bonus and raise) for the employees? The new mean annual salary is $