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
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
