Question
Cynthia is president of an international chemical distribution company, Cchem. Weekly gross sales for Cchem has a mean of $1 million and standard deviation of
Cynthia is president of an international chemical distribution company, Cchem. Weekly gross sales for Cchem has a mean of $1 million and standard deviation of $0.2 million; the distribution of sales is highly right-skewed. One week's sales are independent of the sales in any other week. Use this information to answer questions 5 to 6 below.
In order for Cynthia to receive a bonus, Cchem's annual sales must exceed $53 million. What is the probability that Cynthia will receive a bonus for the fiscal year starting in 2010? Assume there are 52 weeks in a year.
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