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(Solved): 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 \( y=a+b x \)

For a random variable , a new random variable can be created by applying a linear transformation , where and are constants. If the random variable has mean and standard deviation , then the mean, variance and standard deviation of are given by the following formulas. The mean annual salary for employees at a company is . At the end of the year, each employee receives a bonus and a 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


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The new mean annual salary is $41500 Step 1: Take
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