6. For the 2015 holiday season, a nation-wide survey estimated that parents spent an average of $422 per child on holiday gifts, with 2.5% of parents spending more than $442 and 2.5% of parents spending less than $402. The distribution is known to be normally distributed. What is the approximate standard deviation of this distribution? (hint: think 68-95-99.7 rule).
6. For the 2015 holiday season, a nation-wide survey estimated that parents spent an average of $422 per child on holiday gifts, with 2.5% of parents spending more than $442 and 2.5% of parents spending less than $402. The distribution is known to be normally distributed. What is the approximate standard deviation of this distribution? (hint: think 68-95-99.7 rule).
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Plz answer the question in 20 minutes plz it's very urgent
Expert Solution
Step 1
Given Information:
The average amount spent on holiday gifts is $422
2.5% of parents spend more than $442
2.5% of parents spend less than $402
The distribution is normally distributed.
Required: To find the approximate standard deviation of the distribution.
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