Nick Jones has been the production manager of Medi-Line Company for the past 17 years and...

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Nick Jones has been the production manager of Medi-Line Company for the past 17 years and is familiar with the company's product portfolio. For Medi-Line, bandages and arm slings are part of the main products. During the past 5 years, the demand for No-Stick bandages has been following a fairly constant pattern. On the average, sales have been about 87,000 packages of No-Stick bandages. Nick has reasons to believe that the sales of No-Stick bandages follow a normal distribution/curve, with a standard deviation of 4,000 packages. Nick wants to use this information to estimate the following probabilities regarding No-Stick bandages. For Questions (D1) - (D3), your answer should include TWO parts: (1) the EXCEL function(s) you use, and (2) the final answer (please round your final answer to 4 decimal places). (D1). What is the probability that sales of No-Stick bandages will be less than 89,000 packages? (5 marks) (D2). What is the probability that sales of No-Stick bandages will be between 82,000 and 89,000 packages? (5 marks) (D3). What is the probability that sales of No-Stick bandages will be greater than 86,000 packages? (5 marks) (D4). Nick observes that the sales of another type of bandages, Elastic Adhesive bandages, also follow a normal distribution, with a mean of 25,000 packages and a standard deviation of 2,000 packages. Usually the sales of these two types of bandages (No- Stick and Elastic Adhesive) are independent. Therefore, Nick concludes that the total sales of the No-Stick bandages and the Elastic Adhesive bandages will have a mean of 112,000 packages and a standard deviation of 6,000 packages. Do you agree with Nick? If not, what is the mean and the standard deviation of the total sales of the No- Stick bandages and the Elastic Adhesive bandages? (5 marks) Nick Jones has been the production manager of Medi-Line Company for the past 17 years and is familiar with the company's product portfolio. For Medi-Line, bandages and arm slings are part of the main products. During the past 5 years, the demand for No-Stick bandages has been following a fairly constant pattern. On the average, sales have been about 87,000 packages of No-Stick bandages. Nick has reasons to believe that the sales of No-Stick bandages follow a normal distribution/curve, with a standard deviation of 4,000 packages. Nick wants to use this information to estimate the following probabilities regarding No-Stick bandages. For Questions (D1) - (D3), your answer should include TWO parts: (1) the EXCEL function(s) you use, and (2) the final answer (please round your final answer to 4 decimal places). (D1). What is the probability that sales of No-Stick bandages will be less than 89,000 packages? (5 marks) (D2). What is the probability that sales of No-Stick bandages will be between 82,000 and 89,000 packages? (5 marks) (D3). What is the probability that sales of No-Stick bandages will be greater than 86,000 packages? (5 marks) (D4). Nick observes that the sales of another type of bandages, Elastic Adhesive bandages, also follow a normal distribution, with a mean of 25,000 packages and a standard deviation of 2,000 packages. Usually the sales of these two types of bandages (No- Stick and Elastic Adhesive) are independent. Therefore, Nick concludes that the total sales of the No-Stick bandages and the Elastic Adhesive bandages will have a mean of 112,000 packages and a standard deviation of 6,000 packages. Do you agree with Nick? If not, what is the mean and the standard deviation of the total sales of the No- Stick bandages and the Elastic Adhesive bandages? (5 marks)