In a recent year, the average daily circulation of the Wall Street Journal was 2,276,207. Suppose the
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In a recent year, the average daily circulation of the Wall Street Journal was 2,276,207. Suppose the standard deviation is 70,940. Assume the paper’s daily circulation is normally distributed. On what percentage of days would circulation pass 2,400,000? Suppose the paper cannot support the fixed expenses of a full-production setup if the circulation drops below 2,100,000. If the probability of this occurring is low, the production manager might try to keep the full crew in place and not disrupt operations. How often will this happen, base on this historical information?
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Business Statistics For Contemporary Decision Making
ISBN: 9781119607458
10th Edition
Authors: Ken Black
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