Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of12million dollars and a standard deviation

Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of12million dollars and a standard deviation of1.1million dollars. One health care information systems company considers a quarter a "failure" if its sales level that quarter is in the bottom15%of all quarterly sales levels. Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered "failures" by that company and quarters that are not. Carry intermediate computations to at least four decimal places. Round answer to at least one decimal place.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Income Tax Fundamentals 2013

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

31st Edition

1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516

Students also viewed these Mathematics questions