What is the probability that company b would charge more

Reference no: EM13545524

Two companies, a and b, drill wells in a rural area. Company A charges a flat fee of $3500 to drill a well regardless of its depth. Company B charges $1000 plus $12 per foot to drill a well. the depths of wells drilled in this area have a normal distribution with a mean of 250 feet and a standard deviation of 40 feet. what is the probability that company b would charge more than company a to drill a well?

Reference no: EM13545524

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What is the probability that company b would charge more : Two companies, a and b, drill wells in a rural area. Company A charges a flat fee of $3500 to drill a well regardless of its depth. Company B charges $1000 plus $12 per foot to drill a well. the depths of wells drilled in this area have a normal dist..

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