Normal distributions | Management homework help
- Watch the instructor’s videoLinks to an external site. on how to set up and solve a normal distribution problem (Note: this is a low tech video).
- Read problem below. Solve the problem on one sheet of paper. Include all calculations and graphs.
Mariah Jacobsen is the marketing manager at ABC Electronics, a major consumer electronics supplier in the northwest. Over the last five years, sales of the company’s flagship product – the Wizer Anonymizer (the WA) – have been 45000, 45500, 44500, 46000 and 44000 units. This rate of sales is considered average for the product over the last twenty years or so. Ms. Jacobsen believes that the distribution of the WA’s sales is normal with a standard deviation of 1500 units. If she were asked to make a forecast of next year’s sales to upper management, what is the likelihood that she would be correct if she predicts sales between 43000 and 46000?
Leave a ReplyWant to join the discussion?
Feel free to contribute!