Question
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.
What is the probability of family expenses for the weekend being less that $400?
What is the probability of family expenses for the weekend being $800 or more?
What is the probability that family expenses for the weekend will be between $500 and $1000?
What would the Labor Day weekend expenses have to be for the 5% of the families with the most expensive travel plans?
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Discrete Mathematics, Revised
Authors: Seymour Lipschutz, Marc Lipson
3rd Edition
0071615873, 9780071615877
