Question: * UI ASK YOUR TEACHER PRACTICE ANOTHER You may need to use the appropriate appendix table to answer this question. Automobile repair costs continue to

 * UI ASK YOUR TEACHER PRACTICE ANOTHER You may need to

* UI ASK YOUR TEACHER PRACTICE ANOTHER You may need to use the appropriate appendix table to answer this question. Automobile repair costs continue to rise with the average cost now at $367 per repair. Assume that the cost for an automobile repair is normally distributed with standard deviation of $88. Answer the following questions about the cost of automobile repairs. (a) What is the probability that the cost will be more than $4507 (Round your answer to four decimal places.) (b) What is the probability that the cost will be less than $2207 (Round your answer to four decimal places) (C) What is the probability that the cost will be between $220 and $4507 (Round your answer to four decimal places) (d) If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.) $

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 Accounting Questions!