Question

pls give the process of function,thank u!!

1.​Daily receipts for a department store are normally distributed with an average of $12,324 and a standard deviation of $2,345. The manager is being closed watched by the home office to determine his ability to generate revenues.

a.​The home office declares that if revenues on this particular day are less than $12,000 the manager will be fired. How likely is it he will be looking for a new job?

b.​Determine the amount at which the home office should set in order to keep the probability of firing the manager at5%.

Answer 1

= 12324

= 2345

a. P(x <12000)

The probability that Z<−0.138 is equal to the blue area under the curve.

P ( Z<−0.138 )=1−P ( Z<0.138 )

P ( Z<0.138 )=0.5557 (from standard normal table)

P ( Z<−0.138 )=1−P ( Z<0.138 )=1−0.5557=0.4443

Probability that revenue on a particular day is less than 12000 is 0.4443

b. Probability of firing = 5% =0.05

z value for 0.05 = -1.645

x= 8466.48

Amt at which the probabiltiy of firing is 5% = 8466.48