SOLUTION: Invoices at a particular depot have amounts, which follow a Normal distribution with a mean of $103.60 and a standard deviation of $8.75.
What will be the invoice amount such that
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-> SOLUTION: Invoices at a particular depot have amounts, which follow a Normal distribution with a mean of $103.60 and a standard deviation of $8.75.
What will be the invoice amount such that
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Question 925722: Invoices at a particular depot have amounts, which follow a Normal distribution with a mean of $103.60 and a standard deviation of $8.75.
What will be the invoice amount such that approximately 25% of invoices are for greater amount? Answer by ewatrrr(24785) (Show Source):
You can put this solution on YOUR website! mean of $103.60 and a standard deviation of $8.75.
What will be the invoice amount such that approximately 25% of invoices are for greater amount? $110
InvNorm(.75)(8.75 + 103.60 = x
(.6745)(8.75) + 103.60 = 109.50
