In this part, the calculated probabilities will be rounded to the nearest thousandth. The industrialist markets his valves to many customers. Monthly demand is a random variable $D$ that follows the normal distribution with mean $\mu = 800$ and standard deviation $\sigma = 40$.
Determine $P(760 \leqslant D \leqslant 840)$.
Determine $P(D \leqslant 880)$.
The industrialist thinks that if he builds a monthly stock of 880 valves, he will have no more than a $1\%$ chance of running out of stock. Is he right?
In this part, the calculated probabilities will be rounded to the nearest thousandth.\\
The industrialist markets his valves to many customers. Monthly demand is a random variable $D$ that follows the normal distribution with mean $\mu = 800$ and standard deviation $\sigma = 40$.
\begin{enumerate}
\item Determine $P(760 \leqslant D \leqslant 840)$.
\item Determine $P(D \leqslant 880)$.
\item The industrialist thinks that if he builds a monthly stock of 880 valves, he will have no more than a $1\%$ chance of running out of stock. Is he right?
\end{enumerate}