Probability related to profit


JenCo tracks their daily profits and has found that the distribution of profits is approximately normal with a mean of $20,700.00 and a standard deviation of about $750.00. Using this information, answer the following questions. Round your intermediate answers (z values)to 2 decimal places in order to be able to read the corresponding area values from the table.

For kill marks your answer should be accurate to at least four decimal places.

Compute the probability that tomorrow's profit will be:

a) between $18,780.00 and $22,680.00

b) less than $19,837.50 or greater than $22267.50

c) greater than $19,102.50

d) less than $21,015.00 or greater than $22,507.50

e) less than $19,462.50 or greater than $20,347.50

Solution Preview :

Prepared by a verified Expert
Basic Statistics: Probability related to profit
Reference No:- TGS0679591

Now Priced at $10 (50% Discount)

Recommended (99%)

Rated (4.3/5)