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Monthly sales of automobiles at a dealership are normally distributed.  Its average monthly sales are 500 units...

Monthly sales of automobiles at a dealership are normally distributed.  Its average monthly sales are 500 units and the standard deviation is 50.  The manager wants you to calculate the percentage of months the dealership sells above 550 automobiles.

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Answer:

Given that the standard deviation = 50

Mean = 500

To find that sale of vehicles greater than 550 is more than one standard deviation

=> We know that 68% of the times the normal distribution lies below 1 sigma distribution.

=> For more than sales of 550 vehicles, 32% of the times it is possible

=> For a period of 12 months (1 year) => 3.84 months ~ 4 months it is possible to sell more than 550 vehicles

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