Georgia residents spend an average of $470.73 on the lottery, or one percent of their personal income
Question:
Georgia residents spend an average of $470.73 on the lottery, or one percent of their personal income (investopedia.com, June 25, 2019). Suppose the amount spent on the lottery follows a normal distribution with a standard deviation of $50.
a. What is the probability that a randomly selected Georgian spent more than $500 on the lottery?
b. If four Georgians are randomly selected, what is the probability that the average amount spent on the lottery was more than $500?
c. If four Georgians are randomly selected, what is the probability that all of them spent more than $500 on the lottery?
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Authors: Sanjiv Jaggia, Alison Kelly
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