In determining the amount of oil the company must report as


The amount of oil pumped daily at Standard Oil's facilities in Prudhoe Bay is normally distributed with mean 800,000 barrels and standard deviation 10,000.

In determining the amount of oil the company must report as its lower limit of daily production, the company wants to choose an amount such that for 80% of the days, at least the reported amount x is produced. Determine the value of the lower limit x.

Request for Solution File

Ask an Expert for Answer!!
Basic Statistics: In determining the amount of oil the company must report as
Reference No:- TGS02168522

Expected delivery within 24 Hours