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The American Automobile Association (AAA) reported that families planning to travel over the Labor Day weekend would spend an average of $749 (The Associated Press,
The American Automobile Association (AAA) reported that families planning to travel over the Labor Day weekend would spend an average of $749 (The Associated Press, August 12, 2012). Assume that the amount spent is normally distributed with a standard deviation of $225.
(a). What is the probability that a family's expenses are less than $500 for the weekend?
(b) What are the Labor Day weekend expenses for the 5% of the families with the most expensive travel plans?
Please utilize Excel
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