Daily production of gadgets is normally distributed with mean 1000 (μ) and standard deviation 100 (o).
a) What is the probability that today’s production will be more than 950?
b) If there are 22 working days in June, how many could be expected to have production being more than 950? (Give your answer to the nearest whole number.)
c) What is the probability that today’s production will be between 950 and 1050?
d) The company has a policy that if daily production exceeds a certain level, X, all the workers will get a bonus. Assuming that the company does not want to give the workers a bonus more often that 5% of the time, what value should X have?
e) Find the interquartile range for daily production.
(Hint: It would be helpful if you draw the Z curve and shade the required region to see the required probability).