firm's marketing manager believes that the total sales for the firm next year can be modeled using a normal distribution, with a mean of P2.5 million and a standard deviation of P300 000. What is the probability that the firm's sales will exceed P3 million?

firm's marketing manager believes that the total sales for the firm next year can be modeled using a normal distribution, with a mean of P2.5 million and a standard deviation of P300 000. What is the probability that the firm's sales will exceed P3 million?

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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A firm's marketing manager believes that the total sales for the firm next year can be modeled using a normal distribution, with a mean of P2.5 million and a standard deviation of P300 000. What is the probability that the firm's sales will exceed P3 million?

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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