To find the percentage of utility companies that earned revenue greater than 94 million dollars, we need to calculate the z-score for a revenue of 94 million dollars:
z = (X - μ) / σ
z = (94 - 60) / 15
z = 2.27
Now, we need to find the percentage of utility companies with a z-score greater than 2.27. This can be done using a standard normal distribution table or calculator.
Using a calculator, the percentage of values greater than 2.27 in a standard normal distribution is approximately 1.18%.
Therefore, approximately 1.18% of utility companies earned revenue greater than 94 million dollars.
You want to know the percentage of utility companies that earned revenue greater than 94 million dollars. If the mean revenue was 60 million dollars and the data has a standard deviation of 15 million, find the percentage. Assume that the distribution is normal. Round your answer to the nearest hundredth.
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