The stock is worth at least $14.50
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Using the normal distribution, it is found that 2.64% of all the nails produced by this machine are unusable.
In a <em>normal distribution</em> with mean and standard deviation
, the z-score of a measure X is given by:
- It measures how many standard deviations the measure is from the mean.
- After finding the z-score, we look at the z-score table and find the p-value associated with this z-score, which is the percentile of X.
In this problem:
- The mean is of 3 inches, hence
.
- The standard deviation is of 0.009 inches, hence
.
Nails that are <u>more than 0.02 inches</u> from the mean are unusable, hence:
The proportion is P(|Z| > 2.22), which is <u>2 multiplied by the p-value of Z = -2.22</u>.
Z = -2.22 has a p-value of 0.0132.
2 x 0.0132 = 0.0264
0.0264 x 100% = 2.64%
2.64% of all the nails produced by this machine are unusable.
You can learn more about the normal distribution at brainly.com/question/24663213