Question
Suppose that the average amount of money students at Bellevue University spend on gas monthly is $32.50 per month with a standard deviation of $4.64
Suppose that the average amount of money students at Bellevue University spend on gas monthly is $32.50 per month with a standard deviation of $4.64 per month. If I take a sample of 52 BU students, what is the probability that the mean amount of their monthly gas spending is greater than $36.00?
Explain in words(4 pts) how you used Excel to find the z-score (2 pts) and probability (2 pts), then attach a screen shot of the two outputs in Excel. Do not just post the Excel output with no explanation, or you will not receive full credit. In addition, be sure you are giving a complete answer rather than showing me your entire Excel spreadsheet with "More Than", "Less Than" etc. on it modeled from the video. I want to know that you can find this in Excel yourself!
For your second post, find theprobability that the mean amount of their gas bill differs from the expected mean by less than $2.00, again showing your output and explaining your solution.
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