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If x is normally distributed with mean μ and standard deviation σ=4, and given that the probability that x is less than 32 is 0.0228.
a) Find the value of μ.
b) What is the probability that x is greater than 43?
c) What is the probability that x is between 35 and 45?
d) What is the x value so that only 4.01% of all possible outcomes exceeds that value.
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Finally, the CEO reminds you that this presentation is meant to be a how-to guide for the overall decision-making process that you will be using in your future assignments.
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ABC Company is considering the possibility of building an additional factory that would produce a new addition to their product line. The company is currently considering two options. Suppose the probability of the demand being low is uncertain at th..
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