Amount of money spent on maintenance


The weekly amount of money spent on maintenance and repairs by a printing company was observed, over a long period of time, to be approximately normally distributed with a mean of $500 and a standard deviation of $30.

If the printing company does not want its actual weekly costs to exceed its budget on more than 2% of weeks, how much should it set as its weekly budget?

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Basic Statistics: Amount of money spent on maintenance
Reference No:- TGS0839473

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