You are a farmer about to harvest the crop. To describe the uncertainty in the size of the harvest, you feel that it may be described as normal distribution with a mean of 80,000 bushels with a standard deviation of 2500 bushels. Find the probability that your harvest will exceed 84,400 bushels.
Solution:
Given, mean, "\\mu=80,000"
And standard deviation, "\\sigma=2500"
Let X denotes the random variable such that "X\\sim N(80000,\\ 2500)"
We need to find "P(X>84400)" .
"P(X>84400)=1-P(X\\le84400)"
"=1-P(z\\le \\dfrac{84400-80000}{2500})" ["\\because z=\\dfrac{X-\\mu}{\\sigma}" ]
"=1-P(z\\le \\dfrac{4400}{2500})=1-P(z\\le 1.76)"
"=1-0.96080=0.0392"
Thus, the required probability is 0.0392
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