According to Salary Wizard, the average base salary for a brand manager in Houst

Question

According to Salary Wizard, the average base salary for a brand manager in Houston, Texas, is $88,592 and the average base salary for a brand manager in Los Angeles, California,is $97,417 (Salary Wizard website, February 27, 2008). Assume that salaries are normally distributed, the standard deviation for brand managers in Houston is $19,900 and the standard deviation for brand managers in Los Angeles $21,800.

d. How much would a brand manager in Los Angeles have to make in order to have a higher salary than 99% of the brand managers in Houson?

Explanation / Answer

A brand manager in Los Angeles earns $60,000 per year. For a brand manager to earn 99% better than this they need to earn $119,400. This figure represents an increase of $59,400 in their salary from the original sum of $60,000.

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