Question
You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of $230.The total number
You have been asked to determine the probability that the contribution margin for a particular product line exceeds the fixed cost of
$230.The total number of units sold is a normally distributed random variable with a mean of 300 and a variance of
400X ~N(300,400).The selling price per unit is $12. The total number of units produced is a normally distributed random variable with a mean of 500
and a variance of 2500 Y ~N(500,2500).The variable production cost is$6per unit. Production and sales have a positive correlation of 0.50.
What is the probability that the contribution margin for the product line exceeds the fixed cost of $230?
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