Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. news
Question:
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?
Step by Step Answer:
Statistics For Business & Economics
ISBN: 9781305585317
13th Edition
Authors: David R. Anderson, Dennis J. Sweeney, Thomas A. Williams, Jeffrey D. Camm, James J. Cochran