Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. news

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Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. news & World Report website, January 5, 2015). Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs.

a. What is the probability that the cost will be more than $450?

b. What is the probability that the cost will be less than $250?

c. What is the probability that the cost will be between $250 and $450?

d. If the cost for your car repair is in the lower 5% of automobile repair charges, what is your cost?

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Related Book For  book-img-for-question

Statistics For Business & Economics

ISBN: 9781305585317

13th Edition

Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran

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