Sales delay is the elapsed time between the manufacture of a product and its sale. According an article it is quite common for investigators to model sales delay using a lognormal distribution. For a particular product, the cited article proposes this distribution with parameter values μ = 2.09 and ² = 0.07 (here the unit for delay is months). LUSE SALT (a) What are the variance and standard deviation of delay time? (Round your answers to two decimal places.) variance months² months standard deviation (b) What is the probability that delay time exceeds 12 months? (Round your answer to four decimal places.) (c) What is the probability that delay time is within one standard deviation of its mean value? (Round your answer to four decimal places.)

Sales delay is the elapsed time between the manufacture of a product and its sale. According an article it is quite common for investigators to model sales delay using a lognormal distribution. For a particular product, the cited article proposes this distribution with parameter values μ = 2.09 and ² = 0.07 (here the unit for delay is months). LUSE SALT (a) What are the variance and standard deviation of delay time? (Round your answers to two decimal places.) variance months² months standard deviation (b) What is the probability that delay time exceeds 12 months? (Round your answer to four decimal places.) (c) What is the probability that delay time is within one standard deviation of its mean value? (Round your answer to four decimal places.)

College Physics

11th Edition

ISBN:9781305952300

Author:Raymond A. Serway, Chris Vuille

Publisher:Raymond A. Serway, Chris Vuille

Chapter1: Units, Trigonometry. And Vectors

Section: Chapter Questions

Problem 1CQ: Estimate the order of magnitude of the length, in meters, of each of the following; (a) a mouse, (b)...

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