Sales for Fast Kat, a 16-foot catamaran sailboat, have averaged 250 boats per mo

Question

Sales for Fast Kat, a 16-foot catamaran sailboat, have averaged 250 boats per month over the last five years, with a standard deviation of 25 boats. Assuming that the demand is about the same as past years and follows a normal curve.

What is the probability sales will be less than 280 boats?

What is the probability that sales will be more than 265 boats during the next month? What is the probability that sales will be less than 250 boats next month?

Note: i want this question to be answered in excel format.

Explanation / Answer

a) P(X<280)

Use Excel function

NORM.DIST(280,250,25,TRUE)

= 0.8849

B) P(X>265)

Use Excel function

1-NORM.DIST(265,250,25,TRUE)

= 0.2743

P(X<250)

Use Excel function

NORM.DIST(250,250,25,TRUE)

= 0.50

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