Suppose Mercedes is concerned that dealer prices of the CLK350 Coupe are not consistent and that even though the average price is $44,520, the actual…. Suppose Mercedes is concerned that dealer prices of the CLK350 Coupe are not consistent and that even though the average price is $44,520, the 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 the 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?
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Suppose Mercedes is concerned that dealer prices of the CLK350 Coupe are not consistent and that even though the average price is $44,520, the actual…
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