A record producer knows that the profit on the release of a new compact disc (CD) by his premier

A record producer knows that the profit on the release of a new compact disc (CD) by his premier artists has a normal distribution with a mean of $1,250,000 and a standard deviation of $500,000. One of his premier artist is about to release a new CD.

i). What is the probability that the release of the CD makes a loss (profit less than zero)?

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ii). What is the level of profit from the CD release that there is a 10% chance of exceeding?

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iii) The producer has 4 premier artists all releasing CDs shortly. The profits on the CDs are independent, and each will have a normal distribution with a mean of $1,250,000 and a standard deviation of $500,000. What is the probability that the average profit from the 4 CDs exceeds $1,500,000?

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