Suppose the mean income of firms in the industry for a year

Suppose the mean income of firms in the industry for a year is 65 million dollars with a standard deviation of 7 million dollars. PROBABILITY If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than 79 million dollars? Answer: (Round your answer to 4 decimal places) Normal Table - infinity to -z Normal Table -infinity to z

Solution

Mean =65 std dev = 7

P(X<79 million) = P(Z<)

=P(Z<2) =0.9772

answer = 0.9772