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Change their electricity supplier on average

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1. Based on previous studies, Australian residents change their electricity supplier on average three times every 10 years.

What is the probability that a randomly chosen resident in Australia will change their electricity supplier twice in a given 10 year period?

What is the probability that a randomly chosen resident in Australia will change their electricity supplier more than seven times in a given 10 year period?

2. It is believed that the annual amount spent by households on electricity bills in Australia follows a Normal distribution with a mean (µ) of $1800 and a standard deviation (σ) of $350.

What is the probability that a randomly selected household in Australia will be paying less than $1000 annually? Show your calculations.

Reference no: EM133263060

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