Mathematics, 03.12.2020 20:20 shell3181
The weekly amount of money spent on maintenance and repairs by a company was observed, over a long period of time, to be approximately normally distributed with mean $420 and standard deviation $10.
A. If $440 is budgeted for next week, what is the probability that the actual costs will exceed the budgeted amount?
B. How much should be budgeted for weekly repairs and maintenance so that the probability the budgeted amount will be exceeded in a given week is only 0.05?
Answers: 3
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