The Consumer Food database contains a variable, Annual Food Spending, which represents the amount spent per household
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The Consumer Food database contains a variable, Annual Food Spending, which represents the amount spent per household on food for a year. Calculate the mean and standard deviation for this variable that is approximately normally distributed in this database. Using the mean and standard deviation, calculate the probability that a randomly selected household spends more than $10,000 annually on food. What is the probability that a randomly selected household spends less than $5,000 annually on food? What is the probability that a randomly selected household spends between $8,000 and $11,000 annually on food?
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Related Book For
Business Statistics For Contemporary Decision Making
ISBN: 978-1119320890
9th edition
Authors: Ken Black
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