Question
The mean amount of money that a family of four will spend at Kings Island, including the food and souvenirs, is $130 with a standard
The mean amount of money that a family of four will spend at Kings Island, including the food and souvenirs, is $130 with a standard deviation of $12.Assume that this distribution is normal and calculate the following:
Find the probability that a particular family of four selected at random spends between $150 and $200?
What is the probability that the family spends less than $140?
What is the probability that the family spends more than $170?
What is the probability that the family spends between $130 and $190? (Be able to draw a graph to illustrate your results.)
Find the cost that represents the 50th percentile.
Find the cost that represents the 90th percentile.
5% of the families spend below what value?
The top 5% of the families spend above what value?
Between which two values will the middle 50% of the families spend?
What percent of the families spend at least $120?
Use the empirical rule to determine the following:
AAbout 68% of the observations lie between which two values?
BAbout 95% of the observations lie between which two values?
CAbout 99% of the observations lie between which two values?
Use the normal distribution to determine the following:
A68% of the observations lie between which two values?
B95% of the observations lie between which two values?
C99% of the observations lie between which two values?
Discuss the differences in the results for question 12 and question 11.
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