Suppose a paint manufacturer has a daily production, X, that is normally distributed with a mean of 100000 gallons and a standard deviation of 10000 gallons. The management wants to create an incentive bonus for the production crew when the daily production exceeds the 90 % of the total capacity; it hopes that the crew will, in turn, become more productive. At what level of production should management pay the incentive bonus?
Suppose a paint manufacturer has a daily production, X, that is normally distributed with a mean of 100000 gallons and a standard deviation of 10000 gallons. The management wants to create an incentive bonus for the production crew when the daily production exceeds the 90 % of the total capacity; it hopes that the crew will, in turn, become more productive. At what level of production should management pay the incentive bonus?
Suppose a paint manufacturer has a daily production, X, that is normally distributed with a mean of 100000 gallons and a standard deviation of 10000 gallons. The management wants to create an incentive bonus for the production crew when the daily production exceeds the 90 % of the total capacity; it hopes that the crew will, in turn, become more productive. At what level of production should management pay the incentive bonus?
. Suppose a paint manufacturer has a daily production, X, that is normally distributed with a mean of 100000 gallons and a standard deviation of 10000 gallons. The management wants to create an incentive bonus for the production crew when the daily production exceeds the 90 % of the total capacity; it hopes that the crew will, in turn, become more productive. At what level of production should management pay the incentive bonus?
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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