Question
use R Normal distribution Suppose that visitors at a theme park spend an average of $100 on souvenirs. Assume that the money spent is normally
use R
Normal distribution
Suppose that visitors at a theme park spend an average of $100 on souvenirs. Assume that the money spent is normally distributed with a standard deviation of $10.
a) Plot the PDF of this distribution covering the three standard deviations on either side of the mean. b) What are the chances that a randomly selected visitor will spend more than $120? c) What is the chance that a randomly selected visitor will spend between $80 and $90 (inclusive)?
d) What are the chances of spending within one standard deviation, two standard deviations, and three standard deviations, respectively? e) Between what two values will the middle 80% of the money spent will fall? f) If the theme park gives a free T-shirt for the top 2% of the spenders, what will be the minimum amount you have to spend to get the free T-shirt?
g) Show a plot for 10,000 visitors using the above distribution.
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