THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION

question 65

Essay

THE NEXT QUESTIONS ARE BASED ON THE FOLLOWING INFORMATION:
You have recently joined a country club.Suppose that the number of times you expect to play golf in a month is represented by a normally distributed random variable with a mean of 10 and a standard deviation of 2.4.
-Over the course of the next year,the probability is 85% that you average less than how many games per month?

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Definitions:

Variable Costs

Costs that vary depending on how much is produced or sold.

Break-Even Point

The production level or sales volume at which total revenues equal total expenses, resulting in no net loss or gain.

Contribution Margin

The amount remaining from sales revenue after variable costs are deducted, contributing to covering fixed costs and generating profit.

Break-Even Point

The financial point at which costs equal revenues, so there is no net loss or gain.