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Explanation & Answer
a) Convert to z-score: z = (x - 495)/121
P(x < 300) = P(z < - 1.6116) = 0.0535
b) P(300 <= x <= 600) = P( -1.6116 <= z <= 0.8678) = 0.7537
c) P (z > z0) = 0.08, find z0 = 1.4051, and x0 = 1.4051*121 + 495 = $665.02
The answers: 0.0535, 0.7537, $665.02
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