A firm's marketing manager believes that total sales for the firm next year can be modeled...
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A firm's marketing manager believes that total sales for the firm next year can be modeled by using a normal distribution, with a mean of $2.5 million and a standard deviation of $300,000. (a) What is the probability that the firm's sales will exceed $3 million? Probability : (b) What is the probability that the firm's sales will fall within $150,000 of the expected level of sales? Probability : (c) In order to cover fixed costs, the firm's sales must exceed the break-even level of $1.8 million. What is the probability that sales will exceed the break-even level? Probability : (d) Determine the sales level that has only a 9% chance of being exceeded next year. Sales Level : A firm's marketing manager believes that total sales for the firm next year can be modeled by using a normal distribution, with a mean of $2.5 million and a standard deviation of $300,000. (a) What is the probability that the firm's sales will exceed $3 million? Probability : (b) What is the probability that the firm's sales will fall within $150,000 of the expected level of sales? Probability : (c) In order to cover fixed costs, the firm's sales must exceed the break-even level of $1.8 million. What is the probability that sales will exceed the break-even level? Probability : (d) Determine the sales level that has only a 9% chance of being exceeded next year. Sales Level :
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Solution a The probability that the firms sales will exceed 3 million The mean 25 million ... View the full answer
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