Question: The average U.S. monthly cable bill in 2012 has been reported to be $86. Assume monthly cable bills follow a normal distribution with a standard

The average U.S. monthly cable bill in 2012 has been reported to be $86. Assume monthly cable bills follow a normal distribution with a standard deviation of $9.50.

a. What is the probability that a randomly selected bill will be 1. less than $80?

2. less than $90?

3. exactly $85?

4. between $75 and $95?

b. Use Excel or PHStat to confirm the answers in part a.

c. Which monthly cable bill represents the 75th percentile?

AppendixLO1

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Business Statistics Questions!