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1.  A normal distribution has mean of 80 and standard deviation of 14. Determine the value above which 80 percent of the values will occur.

2.  The monthly sales of mufflers in the Richmond, Virginia, area follow the normal distribution with a mean of 1,200 and a standard deviation of 225. The manufacturer would like to establish inventory levels such that there is only a 5 percent chance of running out of stock. Where should the manufacturer set the inventory levels?

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M921442

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