When returns from a project can be assumed to be normally distributed, such as those shown in Figure 13-6 (represented by a symmetrical, bell-shaped

When returns from a project can be assumed to be normally distributed, such as those shown in Figure 13–6(represented by a symmetrical, bell-shaped curve), the areas under the curve can be determined fromstatistical tables based on standard deviations. For example, 68.26 percent of the distribution will fallwithin one standard deviation of the expected value (D ± 1σ). Similarly 95.44 percent will fall within twostandard deviations (D ± 2σ), and so on. An abbreviated table of areas under the normal curve is shown here.Number of σ'sfrom Expected Value+ or –+ and –0.500.19150.38301.000.34130.68261.500.43320.86641.960.47500.95002.000.47720.9544Assume project A has an expected value of $30,000 and a standard deviation (σ) of $6,000.a. What is the probability that the outcome will be between $24,000 and $36,000?b. What is the probability that the outcome will be between $21,000 and $39,000?c. What is the probability that the outcome will be at least $18,000?d. What is the probability that the outcome will be less than $41,760?e. What is the probability that the outcome will be less than $27,000 or greater than $39,000?SolutionProblem 13-22 InstructionsEnter formulas to calculate the requirements of this problema. What is the probability that the outcome will be between $24,000 and $36,000?FORMULAb. What is the probability that the outcome will be between $21,000 and $39,000?FORMULAc. What is the probability that the outcome will be at least $18,000?FORMULAd. What is the probability that the outcome will be less than $41,760?e. What is the probability that the outcome will be less than $27,000or greater than $39,000?FORMULA