A Veternary company partially finances 44 ongoing research projects at several S

Question

A Veternary company partially finances 44 ongoing research projects at several South American universities. The annual support granted for each project is determined by the progress of the project and has a mean of $22,779 and a standard deviation of $8055. The company has an annual budget of $1,000,000 for supporting research activities. What is the probability that the support granted for 44 projects will exceed the annual budget? Carry your intermediate computations to at least four decimal places. Report your result to at least three decimal places.

Explanation / Answer

here for 44 projects mean=22779*44=1002276

and std deviaiton =8055*sqrt(44)=53430.8254

hence probability that the support granted for 44 projects will exceed the annual budget=P(X>1000000)

=P(Z>(1000000-1002276)/53430.8254)=P(Z>-0.04)=0.516 ( please try 0.517 if this comes wrng due to rounding)

Related Questions

Navigate

• Browse (All)
• Browse A
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.