Question: The results of a recent survey indicate that the average new car costs $23,000 with a standard deviation of $3,500. The price of cars is
The results of a recent survey indicate that the average new car costs $23,000 with a standard deviation of $3,500. The price of cars is normally distributed.
a. If someone bought a car for $32,000, what proportion of cars cost an equal amount or more than this?
b. If someone bought a car for $16,000, what proportion of cars cost an equal amount or more than this?
c. At what prcentile rank is a car that sold for $30,000?
d. At what percentile rank is a car that sold for $12,000?
e. What proportion of cars were sold for an amount between $12,000 and $30,000?
f. For what price would a car at the 16th percentile have sold?
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