Question
The profit of all the companiesn in a state is normally distributed with mean $1.3 million and standard deviation $0.2 million. Katy's company makes a
The profit of all the companiesn in a state is normally distributed with mean $1.3 million and standard deviation $0.2 million.
Katy's company makes a profit of $1.5 million. Is her company in the top 10% and what is the 10% cut off in dollars?
Can someone help me set this problem up and solve it? I think we use the population mean formula?
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Horngrens Accounting The Managerial Chapters
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
12th edition
013448682X, 978-0134486826
