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Question (Category: statistics and probability)
suppose mercedes is concerned that dealer price of the clk350 coupe are not consistent and that even though the average price is $44,520 actual prices are normally distributed with a standard deviation of $2,981. suppose also that mercedes believes that at $43,000, the clk350 coupe is priced out of bmw 3 series coupe 335i market. what percentage of the dealer prices for the mercedes clk350 coupe is more than $43,000 and hence priced out of the bmw 3 series coupe 335i market? the average price for a bmw 3 series coupe 335i is $39,368. suppose these prices are also normally distributed with a standard deviation of $2,367. what percentage of bmw dealers is pricing the bmw 3 series coupe 335i at more than the average price for a mercedes clk350 coupe? what might this mean to bmw if dealers were pricing the 3 series coupe 351 at this level? what percentage of mercedes dealers is pricing the clk350 coupe at less the average price of a bmw 3 series 335i?


Answer by Matt D. (Purchased 1 times and rated )