Answered: Historical data show that customers who…

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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Question

Historical data show that customers who download music from a popular Web service spend approximately $24 permonth, with a standard deviation of $3. Assume the spending follows the normal probability distribution. Find the probability that a customer will spend at least $21nper month. How much (or more) do the top 11% of customers spend?

What is the probability that a customer will spend at least $21 per month?

(Round to four decimal places as needed.)

How much (or more) do the top 11% of customers spend?

(Round to the nearest cent as needed)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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