Question: The average price of a 42 in television on Best

The average price of a 42- in. television on Best Buy’s Web site is $ 790. Assume the price of these televisions follows the normal distribution with a standard deviation of $ 160.
a. What is the probability that a randomly selected television from the site sells for
1. Less than $ 700?
2. Between $ 400 and $ 500?
3. Between $ 900 and $ 1,000
b. Confirm the answers to part a using Excel or PHStat.
c. The price intervals in parts a) 2 and a) 3 are equal ($ 100). Why are the probabilities so different?
d. Suppose I am shopping on Best Buy’s Web site for a new 42- in. television and my wife (also known as she-who- has- veto- power- over- as she who has veto power-over- all- electronic- purchases) suggests we set a budget of $ 750 for the purchase. There are 15 42- inch televisions on the site. How many televisions are within my budget?

Sale on SolutionInn
  • CreatedJuly 17, 2015
  • Files Included
Post your question