Discuss the following:
Q: A venture capital company feels that the rate of return (X) on a proposed investment is approximately normally distributed with a mean of 30% and a standard deviation of 10%.
a. Find the probability that the return will exceed 55%.
b. Find the probability that the return will be less than 22%
6. The life expectancy of Timely brand watches follows a normal distribution with a mean of four years and a standard deviation of eight months.
a. The company has a three-year warranty period on their watches. What percentage of their watches will be in operating condition after the warranty period?
b. Ninety-five percent of the watches will have a life expectancy of greater than how many months?
c. What are the minimum and the maximum life expectancy of the middle 95% of the watches?