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You have been asked to determine the probability that the contribution margin for a particular product line exceeds the xed cost of $1000. The total
You have been asked to determine the probability that the contribution margin for a particular product line exceeds the xed cost of $1000. The total number of units sold is a normally distributed random variable with a mean of 300 and a variance of 400 X ~ N(300, 400). The selling price per unit is $11. The total number of units produced is a normally distributed random variable with a mean of 400 and a variance of 1600 Y - N(400, 1600). The variable production cost is $6 per 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 xed cost of $1000? E (Type an integer or decimal rounded to four decimal places as needed.)
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