Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

Currently, about 67% of all U.S. households own a pet. Consider the yearly cost of owning a pet, assuming that these costs are approximately distributed

Currently, about 67% of all U.S. households own a pet. Consider the yearly cost of owning a pet, assuming that these costs are approximately distributed as a normal random variable with a mean of $4600 and a standard deviation of $60.

a. Find the probability that the yearly cost of owning a pet is less than $4550.

b.Find the probability that the yearly cost of owning a pet is more than $4690.

c. What proportion of the households spent between $4550 and $4690 in the yearly cost of owning a pet?

d.99% of the households spent less than what amount in the yearly cost of owning a pet?

Show all work

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Engineering Mechanics Statics

Authors: Russell C. Hibbeler

14th edition

978-0133918922

Students also viewed these Mathematics questions