A company extracts oil at a rig where the monthly weight of oil follows a normal distribution
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A company extracts oil at a rig where the monthly weight of oil follows a normal distribution with mean 10 tons and standard deviation of 1.2 tons. Any monthly weight falling below the 25th percentile is considered not to be cost-effective. Find the weight that establishes the limit for cost-effectiveness.
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To find the weight that establishes the limit for costeffectiveness ie the weight below which the oi...View the full answer
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Related Book For 
Principles Of Managerial Statistics And Data Science
ISBN: 9781119486411
1st Edition
Authors: Roberto Rivera
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