Suppose a paint manufacturer has a daily production, x, that is normally distributed with a mean of
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Suppose a paint manufacturer has a daily production, x, that is normally distributed with a mean of 100,000 gallons and a standard deviation of 10,000 gallons.
Management wants to create an incentive bonus for the production crew when the daily production exceeds the 90th percentile of the distribution, in hopes that the crew will, in turn, become more productive. At what level of production should management pay the incentive bonus?
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Related Book For
Statistics For Business And Economics
ISBN: 9781292227085
13th Global Edition
Authors: Terry Sincich James Mcclave, P. George Benson
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