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The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to commercial firms. Her
The manager of the aerospace division of General Aeronautics has estimated the price it can charge for providing satellite launch services to
commercial firms. Her most optimistic estimate a price not expected to be exceeded more than percent of the time is $ million. Her most
pessimistic estimate a lower price than this one is not expected more than percent of the time is $ million. The expected value estimate is
$ million. The price distribution is believed to be approximately normal.
The standard deviation of the launch price is
million.
The probability of receiving a price less than $ million is
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