Profits (X) in an industry consisting of 100 firms are normally distributed with a mean value of

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Profits (X) in an industry consisting of 100 firms are normally distributed with a mean value of $1.5 million and a standard deviation (s.d.) of $120,000. Calculate
a. P(X < $1 million)
b. P($800,000 ≤ X ≤ $1,300,000)
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Essentials of Econometrics

ISBN: 978-0073375847

4th edition

Authors: Damodar Gujarati, Dawn Porter

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