7. The amount spent by a customer on a Summer Cruise has a normal distribution with amean of $95.60 and a standard deviation of $5.a) Calculate the probability that a randomly selected customer spends less than $95.b) The probability that customers spend more than x dollars is 0.2810. Find the value of r.

1) The probability that a randomly selected customer spends less than 95 dollars is 0.4522 2) The…

Answered: 7. The amount spent by a customer on a…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question Two a) The table below shows the probability distribution of the discrete random variable X. 2 3 4 5 7 P(X=x) 2p 2p 3p i. Find the value of p from the table above. Calculate the probability that at X is at least 5. Calculate the mean of the distribution. ii. 111.
An equipment proposal from two vendors A and B have been received from a local company. The quality of these equipment have been varying and consequently the cost of manufacturing the product using these two different equipment has also varied. The varying costs based on the probabilities of defects are given in table below.Determine the better vendor.
Given the following data with 25 % probability Bidder 1 bids 100 and Bidder 2 bids 80. What is the winning bid? Select the correct response 80 45 100 25
A small retail store has customers whose ages are normally distributed, with a mean of 37.5 and a standard deviation of 7.6. What is the probability that a randomly selected customer is younger than 25 years old? Round your answer to three decimal places, e.g. 0.685.
According to a 2017 Wired magazine article, 40% of e-mails that are received are tracked using software that can tell the e-mail sender when, where, and on what type of device the e-mail was opened (Wired magazine website). Suppose we randomly select 50 received e-mails. a. What is the expected number of these e-mails that are tracked? b. What are the variance (to the nearest whole number) and standard deviation (to 3 decimals) for the number of these e-mails that are tracked? Variance Standard deviation
A small computing center has found that the number of jobs submitted per day to its computers has a distribution that is approximately mound-shaped and symmetric, with a mean of 88 jobs and a standard deviation of 5. Where do we expect approximately 95% of the distribution to fall? between 73 and 103 jobs per day between 98 and 103 jobs per day between 78 and 98 jobs per day O between 83 and 93 jobs per day
An analysis of the grades on the first test in History 101 revealed that they approximate a normal curve with a mean of 75 and a standard deviation of 8. The instructor wants to award the grade of A to the upper 10% of the test grades. To the nearest percent, what is the dividing point between an A and a B grade?
Industry standards suggest that 12 percent of new vehicles require warranty service within the first year. University Toyota in Morgantown, WV sold 10 Toyotas yesterday. What is the probability that exactly one of these vehicles will require warranty service?
You may need to use the appropriate technology to answer this question. Emergency 911 calls to a small municipality in Idaho come in at the rate of one every four minutes. Assume that the number of 911 calls is a random variable that can be described by the Poisson distribution. (a) What is the expected number of 911 calls in 1 hour? 15 (b) What is the probability of three 911 calls in 5 minutes? (Round your answer to four decimal places.) x (c) What is the probability of no 911 calls in a 5-minute period? (Round your answer to four decimal places.) x
You work at a mechanic shop. On average, 10 cars come into your shop each day. Assuming a poisson distribution, what is the probability 4 cars come into the shop? Round to 4 decimal points.

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