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Ozman Manufacturing Co.'s (OMI) new production process yields normally distributed process with daily mean 700 units...

Ozman Manufacturing Co.'s (OMI) new production process yields normally distributed process with daily mean 700 units and standard deviation 50 units. If OMI bids 650 units as their minimum to be delivered every day, how often should OMI expect to default in delivering their minimum bid?

.34

.16

.20

.12
math   Statistics-And-Probability   
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Answer #1

Answer is option B i.e., 0.16. Refer to the standard normal distribution table to check the z-value of -1.

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