Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

According to research, the mean cost of safety equipement per year for colleges in Canada is $27,000.00. Suppose that these costs are normally distributed with

According to research, the mean cost of safety equipement per year for colleges in Canada is $27,000.00. Suppose that these costs are normally distributed with a standard deviation of $3,000.00. If a Canadian College is selected at random, find the following probabilities.

For parts (a), (b), (c) express your answers as probabilities in decimal form (i.e. 0.0003 instead of 0.0300%), and round your answers to 4 decimal places.

(a) The cost is less than $25,410.00. (b) The cost is above $27,660.00. (c) The cost is between $25,410.00 to $27,660.00.

For part (d), round your answer to 2 decimal places.

(d) What amount of cost is the cut-off for the top 9.85% of Canadian Colleges?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Geometry, Structure And Randomness In Combinatorics

Authors: Ji?í Matousek, Jaroslav Nešet?il, Marco Pellegrini

1st Edition

887642525X, 9788876425257

More Books

Students also viewed these Mathematics questions

Question

An improvement in the exchange of information in negotiations.

Answered: 1 week ago

Question

1. Effort is important.

Answered: 1 week ago