LESSON 3
PRACTICE EXERCISE
REQUIREMENT: Answer the following seven (7) problems below.
Situation: An analysis of your organization's self-service supply account expenditures for the
last year indicates an average monthly expense of 70 with a standard deviation of 5.
Your experience has been that self-service accounts tend to be normally distributed and there is
no reason to doubt this is the case for your current organization.
1.
What percent of the time will your monthly expenditures exceed 00?
2.
How often will expenses be less than 95 in a month?
3.
You would expect expenditures to be between 00 and 00 what percent of the time?
4.
Between what two values around the mean would you expect expenditures to be 80% of the
time?
108
FI0921
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