Answered: Southwest Co-op produces bags of…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Southwest Co-op produces bags of fertilizer, and it is concerned about impurity content. It is believed that the weights of impurities per bag are normally distributed with a mean of 12.2 grams and a standard deviation of 2.8 grams. A bag is chosen at random.
a. What is the probability that it contains less than 10 grams of impurities?
b. What is the probability that it contains more than 15 grams of impurities?
c. What is the probability that it contains between 12 and 15 grams of impurities?
d. It is possible, without doing the detailed calculations, to deduce which of the answers to parts (a) and (b) will be the larger. How would you do this?

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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