posted by Sylvia
In this question, use Excel functions rather than Normal distribution tables.
The number of new cars sold by "Ma's New Car Factory" in a financial year can be approximated by a normal distribution with a mean of 125,000 cars and a standard deviation of 34,000 cars.
In order to recover all costs associated with manufacture they need to sell 100,000 cars. What is the probability that "Ma's New Car Factory" will do better than just covering their costs if the sales are distributed as expected? Give your answer to two decimal places in the form x.xx.
What is the number of cars sales that the company has a only a 10% chance of achieving next year? Give you answer as a whole number.
A. Z = (score-mean)/SD
Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability related to the Z score.
B. Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion/probability (.10) to find the Z score. Insert Z value into equation above.