The amount of oil pumped daily at Standard Oil's facilities in Prudhoe Bay is normally distributed with

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The amount of oil pumped daily at Standard Oil's facilities in Prudhoe Bay is normally distributed with mean 800,000 barrels and standard deviation 10,000. In determining the amount of oil the company must report as its lower limit of daily production, the company wants to choose an amount such that for 80% of the days, at least the reported amount x is produced. Determine the value of the lower limit x.
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Complete Business Statistics

ISBN: 9780077239695

7th Edition

Authors: Amir Aczel, Jayavel Sounderpandian

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