Suppose the mean income of firms in the industry for a year is 90 million dollars with a standard deviation of 15 million dollars. If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than 109 million dollars? Round your answer to four decimal places.

Answers

Answer 1

Answer:

0.8980 = 89.80% probability that a randomly selected firm will earn less than 109 million dollars

Step-by-step explanation:

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the z-score of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Distributed normally, mean of 90 million, standard deviation of 15 million.

This means that [tex]\mu = 90, \sigma = 15[/tex]

What is the probability that a randomly selected firm will earn less than 109 million dollars?

This is the pvalue of Z when X = 109. So

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{109 - 90}{15}[/tex]

[tex]Z = 1.27[/tex]

[tex]Z = 1.27[/tex] has a pvalue of 0.8980

0.8980 = 89.80% probability that a randomly selected firm will earn less than 109 million dollars


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Answers

Answer:

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Answer:

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Step-by-step explanation:

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Answer:

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Step-by-step explanation:

= means the same as

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therefore 4 + ?=10

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Answer:

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Step-by-step explanation:

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Step-by-step explanation:

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Answers

Answer:

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Answer:

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Step-by-step explanation:

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Answers

Answer:

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9/2 / 1/4

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Haoeiwhah63618463642

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Answers

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Answers

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Step-by-step explanation:

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Answers

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welcome







20 letters

Need help asap
Question 6

Answers

Answer:

AC=30

BD=30

BE=15

AB=27

Answer:

AC = 30, BD = 30, BE = 15, AB = 27, BC = 13.1

Step-by-step explanation:

AC = AE * 2

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A company's human resources department was interested in the average number of years that a person works before retiring. The sample of size 11 follows: Based on the values of the arithmetic mean, median, and mode, what is the most likely shape of the distribution

Answers

Answer:

hello your question is incomplete  below is the complete question

A company's human resources department was interested in the average number of years that a person works before retiring. The sample of size 11 follows: 12 16 18 19,21 21, 21,22 24 24 26What is the arithmetic mean, median and mode? what is the most likely shape of the distribution

answer :

i) mean = 20.36

ii) median = 21

iii) mode = 21

iv) The most likely shape is a Bell - shaped curve

Step-by-step explanation:

sample size = 11

values ( observations ) = 12, 16, 18, 19,21,21,21,22,24,24,26

i) mean

 = ∑ values / sample size = 224 / 11 = 20.36

ii) median

median is the value of the data located at the center of the string of data

to determine the middle position = ( n+1 / 2 )

where n = sample size

hence position of median value = 11 + 1 / 2 = 12 / 2 = 6

the value at the 6th position = 21 ( median )

iii) mode

mode = most repeated value in the series of data

hence mode value = 21

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Answers

Answer:

2

Step-by-step explanation:

1 + 1 = 2

Number Order: 1 2 3 4 5 6...

1 plus an additional value of 1 gives us the next number which is 2

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