According to the National Association of Childcare Resources and Referral Agencies, the average cost of care for

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According to the National Association of Childcare Resources and Referral Agencies, the average cost of care for an infant in a child-care center in Delaware was $8,769 a year. Assume this cost follows a normal distribution with a standard deviation of $925.

a. What is the probability that a randomly selected childcare center in Delaware costs 1. more than $8,000 per year for infant care?

2. more than $9,000 per year for infant care?

3. between $8,500 and $9,500 per year for infant care?

b. Use Excel or PHStat to confirm the answers in part a.

c. Determine the rate a child-care center that wishes to be in the 60th percentile in the state of Delaware should charge for an infant.

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Business Statistics

ISBN: 9780133852288

2nd Edition

Authors: Robert A Donnelly, Robert Donnelly Jr

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