Consumers spend an average of $21 per week in cash without being aware of where it goes.

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Consumers spend an average of $21 per week in cash without being aware of where it goes. (Data extracted from "A Hole in Our Pockets," USA Today, January 18, 2010, p. 1 A.) Assume that the amount of cash spent without being aware of where it goes is normally distributed and that the standard deviation is $5.
a. What is the probability that a randomly selected person will spend more than $25?
b. What is the probability that a randomly selected person will spend between $10 and $20?
c. Between what two values will the middle 95% of the amounts of cash spent fall?
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Statistics For Managers Using Microsoft Excel

ISBN: 772

7th Edition

Authors: David M. Levine, David F. Stephan, Kathryn A. Szabat

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