Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Oct 13, 2024

Monthly cell phone bill is assumed to follow a normal distribution with a mean of $47 and standard deviation $8. Suppose 4 cell phone bills

Monthly cell phone bill is assumed to follow a normal distribution with a mean of $47 and standard deviation $8. Suppose 4 cell phone bills are randomly selected. What is the probability that the average of these 4 bills will beless than $63?

A.	0.9772
B.	0.0228
C.	0
D.	1

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

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

Step: 2

Step: 3

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

An Introduction to the Mathematics of financial Derivatives

Authors: Salih N. Neftci

2nd Edition

978-0125153928, 9780080478647, 125153929, 978-0123846822

More Books

Students also viewed these Mathematics questions

Question

★★★★★

A sample of clayey silt is mixed at about its LL of 43. It is placed carefully in a small porcelain dish with a volume of 18.9 cm3 and weighs 33.89 g. After oven drying, the soil pat displaces 212.4...

Answered: 1 week ago

Question

★★★★★

ARM assembly programming language (raspberry pi): In this assignment, you will implement basic search operations on an array populated with 10 random values. When the program is executed, it should...

Answered: 1 week ago

Question

★★★★★

=+11. Subtle changes in the tax laws often mean enormous amounts of money to individuals and groups.

Answered: 1 week ago

Question

★★★★★

As an example of difficulties that auditors experience in collecting confirmations of cash balances, consider the Parma at fraud. In that case, the company overstated cash by about $5 billion, which...

Answered: 1 week ago

Question

★★★★★

Monthly cell phone bill is assumed to follow a normal distribution with a mean of $47 and standard deviation $8. Suppose 4 cell phone bills are randomly selected. What is the probability that the...

Answered: 1 week ago

Question

★★★★★

Lab Exercise Design a class named Triangle that extends Geometricobject. Please add the Triangle class definition in the file Triangle.h and add the implementation in the file Triangle.cpp. The class...

Answered: 1 week ago

Question

★★★★★

Econ 241 Fall 2023 Homework Assignment # 2 Name: Due: October 31, 2023 1) (5 points) Explain how a government budget deficit might crowd out private investment. Use a diagram to show it.

Answered: 1 week ago

Question

★★★★★

Question 4 (7 Marks) The Figure below represents labour force and employment in Australia before the bushfire devastation. AssumeE0 is the equilibrium demand and supply for labour before the...

Answered: 1 week ago

Question

★★★★★

6 Consider the following process for matching n jobs to n processors. In each step, every job picks a processor at random. The jobs that have no contention on the processors they picked get executed,...

Answered: 1 week ago

Question

★★★★★

Design the logic and write the Python code that will use assignment statements to: Task 1 : Calculate the profit ( profit ) as the retail price minus the wholesale price. Task 2 : Calculate the sale...

Answered: 1 week ago

Question

★★★★★

Janzen Corporation acquired all of the outstanding common stock of Steinbeck Corporation for $11,180,000 in cash. The book values and fair values of Steinbeck's assets and liabilities were the...

Answered: 1 week ago

Previous Question Next Question