A firm’s marketing manager believes that total sales for next year will follow the normal distribution, with a mean of $3.2 million and a standard deviation of $250,000. Determine the sales level that has only a 3% chance of being exceeded next year.

The sales level that has only a 3% chance of being exceeded next year is $3.67 million.

Step-by-step explanation:

When the distribution is normal, we use the z-score formula.

In a set with mean and standard deviation , the zscore of a measure X is given by:

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

In this question, we have that:

In millions of dollars,

Determine the sales level that has only a 3% chance of being exceeded next year.

This is the 100 - 3 = 97th percentile, which is X when Z has a pvalue of 0.97. So X when Z = 1.88.

The sales level that has only a 3% chance of being exceeded next year is $3.67 million.

8

step-by-step explanation:

just put √(2) * √(32) into a calculator. that will make the answer be 8.

option a is correct.

step-by-step explanation:

scale factor: it is used to find proportional measurements.

proportions means having the same ratio.

scale factor is the ratio of the model measurement to the actual measurement in a simplest form.

or we can say that the ratio of any two corresponding lengths in two similar geometric figures

if the scale factor is more than 1, then it is an enlargement,

if the scale factor less than 1, then it is a reduction.

given the two geometric figure:

by definition of proportions, we have