Can someone please tell me how to solve this problem?
A buyer for a lumber company must determine wheter to buy a piece of land containing 50,000 trees. if 2000 tress are at least 48 feet tall she will purchase the land; otherwise she will not. the owner of the land reports that the distribution of the heights of the trees is normal with the mean of 36 feet ans a standard deviation of 6 feet. based on this information what should the buyer decide?
The mean is 36 feet and standard deviation is 6 feet.
She wants 2000 out of 50,000 trees to be at least 48 feet hight
This is 4%.
48 feet is two standard deviations from the mean.
According to a standard normal distribution table at 2.0 you will find 0.9773 which means that 97.73% of the tress are less than 48 feet tall, leaving only about 2.3% to be taller than 48 feet
No she should not buy.
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