This preview shows page 1. Sign up to view the full content.
Unformatted text preview: increased).
6. A randomly selected value from a normal distribution is found to be 2.1 standard
deviations above its mean.
a) What is the probability that a randomly selected value from the distribution will be
greater than 2.1 standard deviations above the mean? Page 4 of 8 b) What is the probability that a randomly selected value from the distribution will be
less than 2.1 standard deviations from the mean?
  7. Assume that a random variable is normally distributed with a mean of 1,500 and a
variance of 324.
a) What is the probability that a randomly selected value will be greater than 1,550?
( √ ) 0027
b) What is the probability that a randomly selected value will be less than 1,485?
( ) 2033
c) What is the probability that a randomly selected value will be either less than 1,475
or greater than 1,535?
( )
Page 5 of 8 ( ) 8. A random variable is normally distributed with a mean of 25 and a standard deviation of
5. If an observation is randomly selected from the distribution,
a) What value will be exceeded 10% of the time? b) What value will be exceeded 85% of the time? c) Determine the first and third quartiles of the distribution. d) What value will 15% of the observations be below? Page 6 of 8 9. An internet retailer stocks a popular electronic toy at a central warehouse that supplies
the eastern United States. Every week the retailer makes a decision about how many
units of the toy to stock. Suppose that weekly demand for the toy is approximately
normally distributed with a mean of 2,500 units and a standard deviation of 300 unites.
a) If the retailer wants to limit the probability of being out of stock of the electronic toy
to no more than 2.5%...
View Full
Document
 Spring '14

Click to edit the document details