Hello- Need help with this question please. I am not sure where the answer is 3.59%.Thank you for taking a look in advance.Cumulative z-table:z 0.00 0.01 0.02 0.031.6 0.9452 0.9463 0.9474 0.94841.7 0.9554 0.9564 0.9573 0.95821.8 0.9641 0.9649 0.9656 0.9664Monthly sales of hot water heaters are approximately normally distributed with a mean of 21 and a standard deviation of 5. What is the probability of selling 12 hot water heaters or less next month?I picked 0.9641. i was wrong. it is 3.59% (Where did they calculate 3.59%)

OMG. 🤦♀️I truly appreciate your help.

You were close to getting this one.Short version is you needed to do 1-0.9641 = 0.035996.41% represents the probabilty of selling 12 hot water heaters or MORE. The question calls for 12 or Less.Always best to draw graphs on these to give yourself a visual.

A CFA Level 1 Discussion About Common Probability Distribution

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This topic has 2 replies, 2 voices, and was last updated Nov-2012:31 pm by fmccray.

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- fmccray
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  - CFA Level 1
  06 Nov 2020 at 12:31 pm
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  OMG. 🤦‍♀️
  
  I truly appreciate your help.
- djriv81
  Participant
  - CFA Level 1
  06 Nov 2020 at 8:56 am
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  ::
  You were close to getting this one.
  
  Short version is you needed to do 1-0.9641 = 0.0359
  
  96.41% represents the probabilty of selling 12 hot water heaters or MORE. The question calls for 12 or Less.
  
  Always best to draw graphs on these to give yourself a visual.
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