Question: An automobile dealer finds that the average price of a
An automobile dealer finds that the average price of a previously owned vehicle is $8256. He decides to sell cars that will appeal to the middle 60% of the market in terms of price. Find the maximum and minimum prices of the cars the dealer will sell. The standard deviation is $1150, and the variable is normally distributed.
Answer to relevant QuestionsThe average length of a hospital stay for all diagnoses is 4.8 days. If we assume that the lengths of hospital stays are normally distributed with a variance of 2.1, then 10% of hospital stays are longer than how many days? ...To qualify for a police academy, applicants are given a test of physical fitness. The scores are normally distributed with a mean of 64 and a standard deviation of 9. If only the top 20% of the applicants are selected, find ...The data shown represent the cigarette tax (in cents) for 50 selected states. Check for normality. Explain why a normal distribution can be used as an approximation to a binomial distribution. What conditions must be met to use the normal distribution to approximate the binomial distribution? Why is a correction for ...Of all 3- to 5-year-old children, 56% are enrolled in school. If a sample of 500 such children is randomly selected, find the probability that at least 250 will be enrolled in school.
Post your question