Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 21, 2024

A firm's marketing manager believes that annual sales revenue for the firm next year can be modelled using a normal distribution with a (population) mean

A firm's marketing manager believes that annual sales revenue for the firm next year can be modelled using a normal distribution with a (population) mean of $3.5 million and a (population) standard deviation of $0.3 million.

SHOW WORKINGS.

a)What is the probability that the firm's annual sales revenue will be less than $2.8 million?

b) Determine the level of annual sales revenue that has 98.5% of values above it.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Analysis

Authors: Stephen Abbott

2nd Edition

1493927124, 9781493927128

More Books

Students also viewed these Mathematics questions

Question

★★★★★

What is the purpose of a matrix-matched standard in laserinduced breakdown spectroscopy?

Answered: 1 week ago

Question

★★★★★

According to the Old Farmers Almanac, in Honolulu, Hawaii, the number of hours of sunlight on the summer solstice of 2022 was 13.42, and the number of hours of sunlight on the winter solstice was...

Answered: 1 week ago

Question

★★★★★

6. Review weekly and monthly to consolidate learning. Include some review items as homework. Test often, and reteach material missed on the tests.

Answered: 1 week ago

Question

★★★★★

Machine A has been completely overhauled for$9000 and is expected to last another 12 years. The $9000 was treated as an expense for tax purposes last year. Machine A can be sold now for $30,000 net...

Answered: 1 week ago

Question

★★★★★

A small accounting firm is considering the purchase of a computer software package that would greatly reduce the amount of time needed to prepare tax forms. The software costs $ 2350 and this expense...

Answered: 1 week ago

Question

★★★★★

implement in c++ 6. Write a program that inputs the first name, middle initial (without the period), and last name of a user and displays that person's name with the first name first, middle initial...

Answered: 1 week ago

Question

★★★★★

M&M Company manufactures a single product the claud . the following budgeted figures relate to the claud for one year period. Sales & production (units) 800 Sales $16,000 Production Costs: Variable...

Answered: 1 week ago

Question

★★★★★

You delegated the development of dessert recipe cards to Bobby. Bobby has completed the dessert cards ready for the deadline of March 10 th . Bobby has met with you to go through the dessert....

Answered: 1 week ago

Question

★★★★★

Question 19 (3 points) Listen Thames Inc.'s most recent dividend was $2.5 per share (Do = $2.5). The dividend is expected to grow at a rate of 4% per year. The risk-free rate is 3% and the return on...

Answered: 1 week ago

Question

★★★★★

Assume the US enacted tax rate is 30%, and a non-US subsidiary\'s local enacted rate is 25%. If the non-US subsidiary\'s outside basis for book exceeds outside basis for tax, at what total rate will...

Answered: 1 week ago

Question

★★★★★

Canada Sweden Real rate of interest required by investors 2% 2% Nominal interest rate 7% 4.5% Spot rate Swedish Krona SEK/CAD $0.1323 Use the differential in expected inflation to forecast the new...

Answered: 1 week ago

Question

★★★★★

On December 31, 20x5, you enter into a three year contract to build an office building for $18390164.56. At the end of 20x6, you incurred $5191387.62 of costs and expect to incur an additional...

Answered: 1 week ago

Question

★★★★★

2. Imagine a real event that was problematic in your past. What images, sounds, emotions, smells and tastes appear? Try to imagine a movie clip of this inci-dent, as it could unfold if the...

Answered: 1 week ago

Question

★★★★★

5. How can I help others in the network achieve their goals?

Answered: 1 week ago

Question

★★★★★

6. Bring to mind a situation where you had a strong sense of satisfaction with what you did. Immerse yourself in the situation. i. How do you feel? ii. What do you hear? iii. What do you see?

Answered: 1 week ago

Previous Question Next Question