The best information regarding the cost of a research project is that it is normally distributed with a mean of $50,000 and a standard deviation of $5,000. The available funds are limited to $60,000. What is the probability that the project costs
a. Will not exceed the available funds?
b. Will be between $40,000 and $55,000?
c. Will be more than $45,000?
What is the cost which
d. Will not be exceeded more than 15% of the time?
e. Will be exceeded 95% of the time?