The average U.S. monthly cable bill in 2016 has been reported to be $103. Assume monthly cable

Question:

The average U.S. monthly cable bill in 2016 has been reported to be $103. Assume monthly cable bills follow a normal distribution with a standard deviation of $9.50.

a. What is the probability that a randomly selected bill will be

1. less than $100?

2. less than $110?

3. exactly $105?

4. between $95 and $105?

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

c. Which monthly cable bill represents the 75th percentile?

Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...

Fantastic news! We've Found the answer you've been seeking!