Sales delay is the elapsed time between the manufacture of a product and its sale. According an article it is quite common for investigators to model sales delay using a lognormal distribution. For a particular product, the cited article proposes this distribution with parameter values μ = 2.09 and ² = 0.07 (here the unit for delay is months). LUSE SALT (a) What are the variance and standard deviation of delay time? (Round your answers to two decimal places.) variance months² months standard deviation (b) What is the probability that delay time exceeds 12 months? (Round your answer to four decimal places.) (c) What is the probability that delay time is within one standard deviation of its mean value? (Round your answer to four decimal places.)

Sales delay is the elapsed time between the manufacture of a product and its sale. According an article it is quite common for investigators to model sales delay using a lognormal distribution. For a particular product, the cited article proposes this distribution with parameter values μ = 2.09 and ² = 0.07 (here the unit for delay is months). LUSE SALT (a) What are the variance and standard deviation of delay time? (Round your answers to two decimal places.) variance months² months standard deviation (b) What is the probability that delay time exceeds 12 months? (Round your answer to four decimal places.) (c) What is the probability that delay time is within one standard deviation of its mean value? (Round your answer to four decimal places.)

Principles of Physics: A Calculus-Based Text

5th Edition

ISBN:9781133104261

Author:Raymond A. Serway, John W. Jewett

Publisher:Raymond A. Serway, John W. Jewett

Chapter1: Introduction And Vectors

Section: Chapter Questions

Problem 25P: A sidewalk is to be constructed around a swimming pool that measures (10.0 0.1) m by (17.0 0.1) m....

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