Solving question using normal distribution having mean

Reference no: EM1319344

Q1) Normal distribution has mean of 80 and standard deviation of 14. Find out the value above which 80 percent of values will occur.

Q2) Monthly sales of mufflers in Richmond, Virginia, area follow normal distribution with a mean of 1,200 and standard deviation of 225. Manufacturer would like to create inventory levels such that there is only a 5% chance of running out of stock. Where the manufacturer must set inventory levels?

Reference no: EM1319344

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Solving question using normal distribution having mean : Normal distribution has mean of 80 and standard deviation of 14. Find out the value above which 80 percent of values will occur.

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