Question 1 in an industrial setting process steam has been, Ask an Expert

Economics

Question: 1. In an industrial setting, process steam has been found to be normally distributed with an average value of 25,000 pounds per hour. There is an 80% probability that steam flow lies between 20,000 and 30,000 pounds per hour. What is the variance of the steam flow?

2. Suppose that a random variable (e.g., market value for a piece of equipment) is normally distributed, with mean = $175 and variance = 25$2. What is the probability that the actual market value is at least $171?

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92315962

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