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A leading cell phone company forecasts that it will sell 3 million units
(Making Probability Statements from Forecasts)
A leading cell phone company forecasts that it will sell 3 million units next year of its best selling phone. In the past, actual sales have been unbiased with forecast errors having a standard deviation equal to 10 percent of forecasted sales. What are the chances that less than 2.5 million phones will be sold next year.
