What proportion of households spent between a range

Reference no: EM13123146

In a recent year, about two-thirds of US households purchased ground coffee. Consider the annual ground coffee expenditures for households purchasing ground coffee, assuming that these expenditures are approximately distributed as a normal random variable with a mean of $65.16 and a standard deviation of $10.00.

a. Find the probability that a household spent less than $35.00.

b. Find the probability that a household spent more than $60.00.

c. What proportion of the households spent between $40.00 and $50.00.

d. 99% of the households spent less than what amount?

Reference no: EM13123146

Questions Cloud

Question regarding equations and inequalities : Now choose a linear inequality of the form 5y 2x - 8. What are the major differences between the linear equation graph and the linear inequality graph?

Explain how much of the mortgage can they deduct for regular : Interest upon explain how much of the mortgage can they deduct for regular tax purposes and where is it deducted if it is deductible ? Interest upon how much of the mortgage can they deduct for AMT tax purposes ??

Define how would that revenue be measure : Read Georgina Safe s article Change of mind gives gallery a $1m surprise in Financial Accounting in the News 16.2 and determine whether the gallery should treat the donation as revenue. Further, if the donation is treated as revenue, how would tha..

Comparing graphs of equalities and inequalities : You are preparing for an upcoming sales meeting and need to create and compare various supply and demand graphs that show the break-even point for the company.

What proportion of households spent between a range : A normal random variable with a mean of $65.16 and a standard deviation of $10.00. What proportion of the households spent between $40.00 and $50.00.

Company continue to manufacture the part : Santos is considering buying the part from a supplier for a quoted price of $2.70 per unit guaranteed for a three-year period. Should the company continue to manufacture the part, or should it buy the part from the outside supplier? Support your a..

Prepare journal entries to record the sale, cash collections : Prepare journal entries to record the sale, cash collections, and recognition of gross profit (if appropriate) in 2010, 2011, and 2012.

Illustrate what is the total dollar call premium required : The firm has placed many issues in the capital markets during the last 10 years, and its debt flotation cost are currently estimated to be 4% of the issue's value. GST's federal-plus -tax rate is 40%. Illustrate what is the total dollar call premi..

Information about points of inflection : Find the x-coordinate of the points of inflection of f(x) = 47 + 13x + 18x^ 2 + 4x^ 3 - x^ 4

User Account

All Pages