SCENARIO 6-4 a Company Producing Orange Juice Buys All Its Oranges from Oranges

question 132

Short Answer

SCENARIO 6-4
A company producing orange juice buys all its oranges from a large orange orchard. The amount of
juice that can be squeezed from each of these oranges is approximately normally distributed with a
mean of 4.7 ounces and some unknown standard deviation. The company's production manager
knows that the probability is 30.85% that a randomly selected orange will contain less than 4.5
ounces of juice. Also the probability is 10.56% that a randomly selected orange will contain more
than 5.2 ounces of juice. Answer the following questions without the help of a calculator, statistical
software or statistical table.
-Referring to Scenario 6-4, what is the probability that a randomly selected orange will contain
between 4.2 and 4.9 ounces of juices?

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Definitions:

Selling Price

The price at which goods or services are offered for sale to customers.

Cost

The value of the expenses incurred in the production or acquisition of a good or service, including materials, labor, and overheads.

Income Statement

A financial statement that shows a company's revenues and expenses over a specific period, culminating in net income or loss.

Net Income

The concluding profit margin of a company after deducting all operational expenditures and taxes from its income.