A biotechnology company partially finances 42 ongoing research projects at several North American universities. The annual support granted for each project is determined by the progress of the project and has a mean of $22,919 and a standard deviation of $8269. The company has an annual budget of $1,000,000 for supporting research activities What is the probability that the support granted for 42 projects will exceed the annual budget? Carry your intermediate computations to at least four decimal places. Report your result to at least three decimal places.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
icon
Related questions
Question
A biotechnology company partially finances 42 ongoing research projects at several North American universities. The annual support granted for each project is
determined by the progress of the project and has a mean of $22,919 and a standard deviation of $8269. The company has an annual budget of $1,000,000 for
supporting research activities What is the probability that the support granted for 42 projects will exceed the annual budget?
Carry your intermediate computations to at least four decimal places. Report your result to at least three decimal places.
?
Transcribed Image Text:A biotechnology company partially finances 42 ongoing research projects at several North American universities. The annual support granted for each project is determined by the progress of the project and has a mean of $22,919 and a standard deviation of $8269. The company has an annual budget of $1,000,000 for supporting research activities What is the probability that the support granted for 42 projects will exceed the annual budget? Carry your intermediate computations to at least four decimal places. Report your result to at least three decimal places. ?
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 2 images

Blurred answer
Similar questions
Recommended textbooks for you
A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
Probability
ISBN:
9780134753119
Author:
Sheldon Ross
Publisher:
PEARSON
A First Course in Probability
A First Course in Probability
Probability
ISBN:
9780321794772
Author:
Sheldon Ross
Publisher:
PEARSON