It is estimated that weekly demand for gasoline at new station is normally distributed, with an average of 1,000 and standard deviation of 50 gallons. The station will be supplied with gasoline once a week. What must the capacity of its tank be if the probability that its supply will be exhausted in a week is to be no more than 0.01?
0.01 is the 99th percentile
Using our percentile calculator, we get x = 1116.3
0.01 is the 99th percentile
Using our percentile calculator, we get x = 1116.3