Course: Statistics and Probability An engineering firm provides industrial services to various companies. Since costs are always estimated, not all contracts signed are profitable. It is known that gross profit per contract (as a percentage of contract value) appears to have normal distribution with mean 12% and standard deviation 6%. Manager is about to sign a new contract. If gross profit on that contract is less than 10%, he will have to reevaluate way costs are being estimated. a) What is probability that gross profit will be less than 10%? b) Would you advise manager to reevaluate way he is estimating costs? Why? Explain