Question

Weekly demand for a product is normally distributed with a mean and standard deviation of 3,211 and 484 units, respectively. What is the probability that weekly demand exceeds 4,044

Answer 1

The probability it is greater than or equal to 0.95 and less than or equal to 0.96

Explanation:

In order to calculate the probability that weekly demand exceeds 4,044 we would have to calculate the z value as follows:

Z= (X-mean)/standard deviation

Z= (4044 - 3211)/484

Z=1.721

So, looking for standard normal distribution table 1.7 from row, we get values from 0.9554 till 0.9633, for column 0.02 it is 0.9573

Therefore, the probability it is greater than or equal to 0.95 and less than or equal to 0.96