According to a government study among adults in the 25- to 34-year age group, the mean...
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According to a government study among adults in the 25- to 34-year age group, the mean amount spent per year on reading and entertainment is $1900. Assume that the distribution of the amounts spent follows the normal distribution with a standard deviation of $420. Refer to the table in a. What percentage of the adults spend more than $2000 per year on reading and entertainment? Percentage % b. What percentage of the adults spend between $2000 and $3000 per year on reading and entertainment? Percentage c. What percentage of the adults spend less than $1000 per year on reading and entertainment? Percentage % According to a government study among adults in the 25- to 34-year age group, the mean amount spent per year on reading and entertainment is $1900. Assume that the distribution of the amounts spent follows the normal distribution with a standard deviation of $420. Refer to the table in a. What percentage of the adults spend more than $2000 per year on reading and entertainment? Percentage % b. What percentage of the adults spend between $2000 and $3000 per year on reading and entertainment? Percentage c. What percentage of the adults spend less than $1000 per year on reading and entertainment? Percentage %
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Answer rating: 100% (QA)
To solve these problems we can use the properties of the normal distribution Given the mean amount spent per year on reading and entertainment is 1900 ... View the full answer
Related Book For
Statistical Techniques in Business and Economics
ISBN: 978-0078020520
16th edition
Authors: Douglas Lind, William Marchal
Posted Date:
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