1. A software house found that the project value received over the past year were approximately normally distributed , with a mean of $43,000 and a standard deviation of $8,500 . Suppose the project value remains the same next year.
a) What proportion of new projects would you expect to be $35,000 or less?
b) What proportion of new projects would you expect to be between $30,000 and $45,000?
2.The probability that a bearing meets a specification is 0.92 . Six bearings are picked at random . Calculate the probability that
a)all six meet the specification
b)more than four meet the specification
c)one or none meets specification and
d)and exactly four meet the specification