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NEED THE EXCEL FORMULAS!!! According to the 2001 Canadian census, university-educated Canadians earned a mean income...

NEED THE EXCEL FORMULAS!!! According to the 2001 Canadian census, university-educated Canadians earned a mean income of $61,823. The standard deviation is $17,301.

a.If incomes are normally distributed, what is the probability that a randomly selected university educated Canadian earns more than $70,000?

b.If incomes are normally distributed, what is the probability that a randomly selected university educated Canadian earns less than $55,000?

c. What is the cutoff for salaries for the top 10% of university-educated Canadians?

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NEED THE EXCEL FORMULAS!!! According to the 2001 Canadian census, university-educated Canadians earned a mean income of $61,823. The standard deviation is $17,301.

a.If incomes are normally distributed, what is the probability that a randomly selected university educated Canadian earns more than $70,000?

P( x >70000) =0.318238

Excel formula =1-NORM.DIST(70000,61823,17301,TRUE)

b.If incomes are normally distributed, what is the probability that a randomly selected university educated Canadian earns less than $55,000?

P( x <55000) =0.346654

Excel formula: =NORM.DIST(55000,61823,17301,TRUE)

c. What is the cutoff for salaries for the top 10% of university-educated Canadians?

cutoff for Salaries of top 10% = $83995.12

Excel formula: =NORM.INV(0.9,61823,17301)

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