Based upon extensive historical evidence, a company's daily sales volume is known to be normally distributed with a mean of 1,728 units and a standard deviation of 273 units. What is the probability that, on any one day, the sales volume will be at least 1,300 units?

Question

Quizplus · Accepted Answer

To find the probability that sales volume is at least 1,300 units, we calculate the Z-score: Z = (1300 - 1728) / 273 ≈ -1.57. Using the standard normal distribution table, the probability of Z being greater than -1.57 is approximately 94.18%.

Based Upon Extensive Historical Evidence, a Company's Daily Sales Volume