Find probability that a dog owner will spend more in a year

Reference no: EM13132149

The American Veterinary Assoication claims that the annual cost of medical care for dogs in the US averages $100 with a standard deviation of $30. The annual cost for cats is reported to be $120 with a standard deviation of $40. You may assume that veterinary costs for dogs and cats are independent, and that both are normally distributed.

(a) What is the probability that a dog owner will spend more than $130 on medical care in a given year?
(b) What is the prbability that a cat owner will spend $160 or more on medical care in a given year?
(c) Compare your answers for (1a) and (1b). Explain what you notice.
(d) What is the probability that a dog owner will spend less than $80 on medical care in a given year?
(e) What is the probability a dog owner will spend between $80 and $130 on medical care in a given year?
(f) Your friend owns a cat and a dog. What is the probability that she spends more on medical care for her dog than for her cat in a given year?

Reference no: EM13132149

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