Millennials spent an average of $103 on monthly dining in 2016. Assume that the amount spent on

Question:

Millennials spent an average of $103 on monthly dining in 2016.

Assume that the amount spent on a monthly dining is normally distributed and that the standard deviation is $12.

a. What is the probability that a randomly selected millennial spent more than $110?

b. What is the probability that a randomly selected millennial spent between $70 and $124?

c. Between what two values will the middle 95 percent of the amounts spent fall?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Public Finance An International Perspective

ISBN: 9789814365048

1st Edition

Authors: Joshua E. Greene

See More Books

Question Posted: Mar 20, 2024 04:03 AM

See More Questions

Millennials spent an average of $103 on monthly dining in 2016. Source: Data extracted from Consumer Response Annual Report,available at bit.ly/2x4CN5w. Assume that the amount spent on a monthly...
The amount spent by millennials on monthly dining in 2016 is normally distributed with mean $103 and standard deviation $12. a. What is the probability that a randomly selected millennial spent more...
Millennials spent a mean of $2,921 annually dining in 2016. Assume that the amount spent on annual dining is normally distributed and that the standard deviation is $12. a. What is the probability...
Use the information in Exercise 2-16 to prepare an August 31 balance sheet for Help Today. Hint: Compute the ownerscapital account balance as of August 31. Data from Exercise 2-16 Carmen Camry...
Sam Sharp is an accountant with a shady past. Suffice it to say that he owes some very unsavory characters a lot of money. Despite his past, Sam works hard at keeping up a strong professional image....
Poblano Co. was organized on July 1, 2010. Quarterly financial statements are prepared. The unadjusted and adjusted trial balances as of September 30 are shown below. Instructions(a) Journalize the...
On February 20, 2009, Cedar Valley Aviation, a wholly owned subsidiary of Aerial Services, Inc. (ASI), brought a Piper 522AS (Cheyenne II) in for maintenance to Des Moines Flying Service, Inc....
Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant has an average inventory turnover of only 12 times per year. She has therefore deter-mined...
n Juods xi(yi - Bxi) = 0 n i=1 a) Step by step, solve for B (Hint: you may want to use the proof starting on pg 10 as your guide)
The scores on a university entrance exam are normally distributed with a mean of 72% and a standard deviation of 15. a. Find the probability that a student taking the entrance exam will score below...
A regional airline carrier determined that the number of kilo meters travelled per airplane per year is normally distributed with a mean of 700 thousand kilo meters and a standard deviation of a 100...
Briefly describe the loan programs offered by the Department of Housing and Urban Development.
How External auditors may qualify for whistleblower awards? Explain in detail. they report information about potential violations of their audit firm's performance of audit services for the client...
A 10-year semiannual coupon-ed bond with a face value of $1,000 and a coupon rate of 5% was issued on 01/01/2020. It was transacted in-between coupon dates the next year on 02/15/2021 at a bond...
How is the recognition of a recovery different from the recognition of a gain? Can a recovery be recorded as income? Why or why not?
What is the definition of a deficient evaluation is that it includes irrelevant considerations?
Recovery is a process of change through which people improve their health and wellness, live self-directed lives, and strive to reach their full potential. Even people with severe and chronic...
The reaction time of a driver to visual stimulus is normally distributed with a mean of 0.4 seconds and a standard deviation of 0.05 seconds. (a) What is the probability that a reaction requires more...
Consider the combustion of methanol below. If 64 grams of methanol reacts with 160 grams of oxygen, what is the CHANGE in volume at STP. 2CH3OH(g) + 3O2(g) 2CO2(g) + 4H2O(1) The volume decreases by...
Continuation of Exercise 5-20. Determine the following: (a) P(X = 1, Y = 17, Z = 3) (b) P(X < 1, Y = 17, Z = 3) (c) P(X < 1 (d) E(X)
Continuation of Exercise 5-20. Determine the following: (a) P(X = 2, Z = 3|Y = 17) (b) P(X = 2|Y = 17) (c) E(X|Y = 17)
An order of 15 printers contains four with a graphics enhancement feature, five with extra memory, and six with both features. Four printers are selected at random, without replacement, from this...
Answer the questions in the space provided. Explain all of your answers. [1] Consider the Freedonian economy as described by the following: Y=AKA-4, K fixed at K-16 and L is fixed at L =81
Suppose that the scores on your next statistics test will be normally distributed with a mean of 66% and a standard deviation of 10%. Using the z-score table find the percentage, and the area under...
cors.) (6 points) Question 10 Using the data provided in Exhibit 4, perform a regression analysis on the data, and include residuals in your output. Based on these results, which variables are most...

Millennials spent an average of $103 on monthly dining in 2016. Assume that the amount spent on

Question:

Step by Step Answer:

Public Finance An International Perspective

Students also viewed these Business questions