Probability & standard deviation, mathematics

Mathematics
Tutor: None Selected Time limit: 1 Day

 I am monitoring the travel expenses from the sales people.  Throughout 2015 the average monthly travel expense has been $12,200 with a standard deviation of $1,169.  What is the probability that the monthly travel expense could spike to $14,000 or more?

Nov 13th, 2015

Thank you for the opportunity to help you with your question!

z score = (14000-12200)/1169 = 1.5397

For given z score, percentile  = 94 percent

Hence probability that travel expense will spike to more than 14000

=~  0.06

Please let me know if you need any clarification. I'm always happy to answer your questions.
Nov 13th, 2015

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Nov 13th, 2015
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Nov 13th, 2015
Dec 8th, 2016
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