If X Is a Normal Random Variable with a Mean $\le$

question 84

Essay

If X is a normal random variable with a mean of 78 and a standard deviation of 5, find the following probabilities:
a. P(X ? 87).
b. P(X ? 91).
c. P( $\le$ X $\le$ ).

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Definitions:

Opportunity Costs

The financial loss associated with dismissing the next favorable option when deciding.

Receivables Period

The receivables period is the average amount of time it takes for a company to receive payments owed by its customers for goods or services sold on credit.

Payables Period

The length of time a company takes to pay its invoices to suppliers, reflecting its payment policy's efficiency.

Accounts Receivable Balance

The sum total of debts customers have towards a company for delivered goods or services which have not been paid for yet.