Linear Transformation of a Random Variable In Exercises 41 and 42, use this information about linear transformations. For a random variable x, a new random variable y can be created by applying a linear transformation , where a and b are constants. If the random variable x has mean and standard deviation , then the mean, variance, and standard deviation of y are given by the formulas
The mean annual salary of employees at an office is originally $46,000. Each employee receives an annual bonus of $600 and a 3% raise (based on salary). What is the new mean annual salary (including the bonus and raise)?