Time remaining:
Please answer the question in the pictures

Mathematics
Tutor: None Selected Time limit: 0 Hours

Apr 24th, 2015

given mean=495

standard deviation=121

a) probability that monthly expenditure is less than 300$

z=(300-495)/121=-1.6115

p(z<-1.6115)=0.5-0.4452=0.0548

b)probability that monthly expenditure lies between 300 and 600 is

for 300 to 495

p(300<x<495)=0.4452

for 495 to 600

z=(600-495)/121=0.86

p(z<0.86)=0.3051

total p(300<x<600)=0.4452+0.3051=0.7503

c)top 8% means finding x having probability 0.08

for 0.5-0.08=0.42

z value corresponding to p value 0.42 is 1.28

(X-495)/121=1.28

X=650

so, for discount he has to spent atleast 649.88$ or 650$

if u have any doubts feel free to ask

Apr 25th, 2015

good

Aug 6th, 2015

good

Aug 25th, 2015

good

Sep 11th, 2015

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Apr 24th, 2015
...
Apr 24th, 2015
Dec 4th, 2016
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer