Question

Supposed to mean income of firms in the industry for year is $85 million with a standard deviation of $9 million. If incomes for the industry are distributed normally what is the probability that a randomly selected firm will earn less than $105 million? Round answer to four decimal places

Answer 1

Given
`Z=(x-\mu)/(\sigma)`
`\begin{gathered} x=105miliion \\ \mu=85\text{ million} \\ \sigma=9\text{ million} \end{gathered}`
`\begin{gathered} Z=(105-85)/(9) \\ \\ Z=2.22222 \end{gathered}`

Now

The final answer
`0.9869\text{ \lparen4 d. p\rparen}`