A small business owner determines that her revenue during the next year should be approximately normally distributed with a mean

Question

4 years ago

11

of $425,000 and standard deviation of $130,000. What is the probability that her revenue will exceed $600,000? a. .9999 b. .0085 c 5000 d..9115

1 answer:

charle [14.2K] · Answer 1 · 2021-11-20T14:10:04+03:00

Answer:

b. .0085

Explanation:

we normalize our sample to get a Pz value

$P_z = \frac{X - \mu}{\sigma} \\P_Z = \frac{600,000 - 425,000}{130,000} = 1,3461538461$

Then, we look in the tables for the accumulated probability at that point:

0.910873547

This is the area BELOW teh given mark we are asked for the probability above the area (more than 600,000)

1 - 0.910873547 = 0,089126

the most close estimation will be option b