Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered “failure” by that company and quarters that are not.
Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered “failure” by that company and quarters that are not.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Suppose that the quarterly sales levels among health care information systems companies are approximately normally distributed with a mean of 9 million dollars and a standard deviation of 1.2 million dollars. One health care information systems company considers a quarter a “failure” if it’s sales level that quarter is in the bottom 15% of all quarterly sales levels. Determine the sales level (in millions of dollars) that is the cutoff between quarters that are considered “failure” by that company and quarters that are not. Carry your intermediate computations to atleast four decimal places and round your answer to one decimal place.
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