Let X Be a Normally Distributed Random Variable with a Mean

question 97

Short Answer

Let X be a normally distributed random variable with a mean of 12 and a standard deviation of 1.5.What proportions of the values of X are:
a.less than 14
b.more than 8
c.between 10 and 13

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Definitions:

Higher Price Buyer

A buyer willing to pay more than the standard price, usually in exchange for premium service, faster delivery, or exclusive access to a product or service.

Expected Revenue

The amount of money a business anticipates receiving over a certain period, based on sales forecasts and pricing strategies.

Capacity Reserved

The portion of production capability or service capacity deliberately kept back or saved for a specific purpose or customer.

Spoilage

The deterioration or loss of goods, especially in perishable inventory, due to factors like time, temperature, or mishandling.