The Carthage Sceptre Corporation is evaluating a possible investment in a new regional distribution warehouse. A careful evaluation of the anticipated net cash flows and net investment expected from the project indicates that the expected net present value (NPV) of this project is $4.5 million.
The anticipated standard deviation of this expected NPV is $3 million, and the distribution of the project's NPV is approximately normal.
What is the chance that this project will have a positive NPV at least equal to $1,000,000?