Question

You want to know the percentage of financial services companies that earned revenue less than 68 million or more than 112 million dollars. If the mean revenue was 90 million dollars and the data has a standard deviation of 26 million, find the percentage. Assume that the distribution is normal. Round your answer to the nearest hundredth.

Answer 1

[AI-generated answer — Bot GPT 3.5]

To find the percentage of financial services companies that earned revenue less than 68 million or more than 112 million dollars, we need to find the Z-scores for these values and then use a Z-table to find the percentage.

First, let's find the Z-score for $68 million:
Z = (68 - 90) / 26
Z = -22 / 26
Z = -0.85

Next, let's find the Z-score for $112 million:
Z = (112 - 90) / 26
Z = 22 / 26
Z = 0.85

Now, we look up the Z-scores in a Z-table:

For Z = -0.85, the percentage is 0.1977
For Z = 0.85, the percentage is 0.8023

To find the percentage of companies that earned revenue less than 68 million or more than 112 million, we sum these two percentages:
Percentage = 0.1977 + 0.8023
Percentage = 1

Therefore, 100% of financial services companies earned revenue less than 68 million or more than 112 million dollars.