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(d) If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.)

(d) If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.)

MATLAB: An Introduction with Applications
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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You may need to use the appropriate appendix table to answer this question. Automobile repair costs continue to rise with the average cost now at $367 per repair. Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. (a) What is the probability that the cost will be more than $480? (Round your answer to four decimal places.) [Answer box] (b) What is the probability that the cost will be less than $260? (Round your answer to four decimal places.) [Answer box] (c) What is the probability that the cost will be between $260 and $480? (Round your answer to four decimal places.) [Answer box] (d) If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.) $ [Answer box]
Transcribed Image Text:You may need to use the appropriate appendix table to answer this question. Automobile repair costs continue to rise with the average cost now at $367 per repair. Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. (a) What is the probability that the cost will be more than $480? (Round your answer to four decimal places.) [Answer box] (b) What is the probability that the cost will be less than $260? (Round your answer to four decimal places.) [Answer box] (c) What is the probability that the cost will be between $260 and $480? (Round your answer to four decimal places.) [Answer box] (d) If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.) $ [Answer box]
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