The ABC co. produces tables. The fixed monthly cost of production is $8,000, while the variable cost per tale is $65. The table sells for $180 a piece. For a monthly volume of 300 tables:
Now suppose the company has determined that volume is normally distributed with a mean of 90 tables per month and a standard deviation of 30 tables.
a. Determine the probability that the company will break even?
b. Determine the probability that the company will make a profit of 8,000 or more per month.