In a recent year, the average daily circulation of theWall Street Journalwas2,276,207. Suppose the standard...
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Accounting
In a recent year, the average daily circulation of theWall Street Journalwas2,276,207. Suppose the standard deviation is 70,940. Assume the paper's daily circulation is normally distributed.
(a)On what percentage of days would circulation pass1,796,000?
(b)Suppose the paper cannot support the fixed expenses of a full-production setup if the circulation drops below1,632,000. If the probability of this even occurring is low, the production manager might try to keep the full crew in place and not disrupt operations. How often will this even happen, based on this historical information?
(Round the values of z to 2 decimal places. Round your answers to 4 decimal places.)
(a)P(x>1,796,000) =
enter the probability that the daily circulation would pass1,796,000
(b)P(x<1,632,000) =
enter the probability that the daily circulation will drop below1,632,000
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