A company's marketing manager believes that the sales for next year will follow normal distribution with mean of $500.000 and standard deviation of $20.000 a. Calculate the probability that the sales will be less than $450.000 next year b. Calculate the probability that the sale will be more than $ 485.000 but less than $502.000 next year. c. Given that l%o of the sales exceeded $k, find the value of k.

A company's marketing manager believes that the sales for next year will follow normal distribution with mean of $500.000 and standard deviation of $20.000 a. Calculate the probability that the sales will be less than $450.000 next year b. Calculate the probability that the sale will be more than $ 485.000 but less than $502.000 next year. c. Given that l%o of the sales exceeded $k, find the value of k.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.4: Distributions Of Data

Problem 19PFA

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Question

A company's marketing manager believes that the sales for next year will follow normal distribution with mean of $500.000 and standard deviation of $20.000

a. Calculate the probability that the sales will be less than $450.000 next year

b. Calculate the probability that the sale will be more than $ 485.000 but less than $502.000 next year.

c. Given that l%o of the sales exceeded $k, find the value of k.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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