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Mathematical Methods for Agricultural Risk Assessment
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What is the probability of obtaining a yield of at least 100 bushels per acre if the yield distribution is normally distributed with a mean of 120 bushels per acre and a standard deviation of 20 bushels per acre?
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A
0.8413
💡 Explanation:
The probability of obtaining a yield of at least 100 bushels per acre can be calculated using the standard normal distribution. The z-score for a yield of 100 bushels per acre is (100 - 120) / 20 = -1.00. The probability of obtaining a z-score of -1.00 or higher is 0.8413.