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11. An oil producer plans to sell 1 million barrels of crude oil one year from now. The oil price in one year is normally

11. An oil producer plans to sell 1 million barrels of crude oil one year from now. The oil price in one year is normally distributed with the mean of $80 per barrel and the standard deviation of $12 per barrel. What is the probability that the sales revenue is lower than $50 millions? (a) 0.62% (b) 41.75% (c) 58.25% (d) 99.38%

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