Based on historical records, the owner of a personal computer sales company knows that the price of the computers sold by the company is normally distributed with an average selling price of $1,000 and standard deviation of $200.
What is the probability that a randomly selected computer from the company inventory has a price of at least $1,100? (Given: μ = $1,000, σ = $200)
If a customer is willing to spend between $800 and $1,100 on a computer, what is the probability that this company can meet this need? (Given: μ = $1,000, σ = $200)
What is the probability that a randomly selected computer from the company inventory has a price of less than $900? (Given: μ = $1,000, σ = $200)
What is the price of company computers which defines the upper 15% of their computer costs marketed to "elite" consumers? (Given: μ = $1,000, σ = $200)