Need some guidance with this equation. A brief explanation with be greatly appreciated.
For a random variable x. a new random variable y can be created by applying a linear transformation 3! = a + bx, where a and b are constants. If the random variable xhas mean p1 and standard deviation ox, then the mean. variance and standard deviation of y are given by the following formulas. H=ﬂ+bpx 62y=b2°21 Dy=lbl51 The mean annual salary for employees at a company is $34,000. At the end of the year, each employee receives a $5000 bonus and a 9% raise (based on salary).What is the newI mean annual salary [including the bonus and raise} for the employees?