Question: Question 2 (2 +2 + 2 = 6 marks) The weekly household expenditure on petrol is known to be normally distributed, with a mean of


Question 2 (2 +2 + 2 = 6 marks) The weekly household expenditure on petrol is known to be normally distributed, with a mean of $120 and a standard deviation of $50. a) A household is randomly selected. Find the probability that selected household spends between $132 and $162 per week on petrol. b) The government wants to promote public transport and will award a prize to the families who spend the lowest amount on petrol. If the government only wants to give a prize to 10% of households, what is the most that a family is allowed to spend on petrol each week to obtain the prize? C) In a sample of 25 families, what is the probability that the average weekly expenditure on petrol will be less than $105
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
