Answer: 0.0475
Step-by-step explanation:
Given : A firm’s marketing manager believes that total sales X can be modeled using a normal distribution.
Where , Population mean :
Standard deviation :
To find : Probability that the firm’s sales will exceed $3 million i.e. $ 3,000,000.
∵
Then , for x= 3,000,000
Then , the probability that the firm’s sales will exceed $3 million is given by :-
Hence, the probability that the firm’s sales will exceed $3 million = 0.0475