Based on the given information, what will be the retained earnings for a given accounting period?
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Answer:
99.87% of cans have less than 362 grams of lemonade mix
Step-by-step explanation:
Let the the random variable X denote the amounts of lemonade mix in cans of lemonade mix . The X is normally distributed with a mean of 350 and a standard deviation of 4. We are required to determine the percent of cans that have less than 362 grams of lemonade mix;
We first determine the probability that the amounts of lemonade mix in a can is less than 362 grams;
Pr(X<362)
We calculate the z-score by standardizing the random variable X;
Pr(X<362) =
This probability is equivalent to the area to the left of 3 in a standard normal curve. From the standard normal tables;
Pr(Z<3) = 0.9987
Therefore, 99.87% of cans have less than 362 grams of lemonade mix