Suppose the mean income of firms in the industry for a year is 30 million dollars with a standard deviation of 1 million dollars. If incomes for the industry are distributed normally, what is the probability that a randomly selected firm will earn less than 31 million dollars? Round your answer to four decimal places.

Q: Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the…

A: From the provided information,Mean (µ) = 162000Standard deviation (σ) = 36000Sample size (n) = 58

Q: Micheal invested $2000 in a certain stock. At the end of the year the stock could be worth $1600,…

A: Given: Micheal invested $2000 in a certain stock. At the end of the year the stock could be worth…

Q: The owner of a computer repair shop has determined that their daily revenue has mean $7000 and…

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Q: A data set is formed by recording the sums in 400 rolls of a pair of a dice. A second data set is…

A: Standard deviation:The standard deviation indicates by how much each observation differs from a…

Q: A population has a mean of 200 and a standard deviation of 25. A sample of 64 observations will be…

A: We have to find out given probabiity..

Q: You are told that the mean income for graduating seniors is $58,500 with a standard deviation of…

A: Given μ=58500σ=4100 Majority of graduating seniors earn income between a and b is,…

Q: A successful basketball player has a height of 6 feet 8 ​inches, or 203 cm. Based on statistics from…

A: Consider X is a random variable defined as the height of a successful basketball player.The provided…

Q: Suppose the amount newly married couples spend per week on groceries is normally distributed with a…

A: given data, normal distribution μ=65σ=4.3the amount (in dollars) spent on groceries representing the…

Q: Suppose you have a test with a mean of 66 and a standard deviation of 5. If you first increase…

A: Given Mean =66 Standard deviation=5

Q: A flu test shows that about 31% of 90 patients visited hospital in the first week of January had…

A: Given that  n = 90 , p = 31% = 0.31 , q = 1 - p = 1 - 0.31 = 0.69 X ~ Binomial (n = 90 , p = 0.31) X…

Q: The length of human pregnancies from conception to birth varies according to a distribution that is…

A: Given that.   X~N( μ , ?)   μ=266     , ?=16   Z-score =( x - μ )/?

Q: The summary data from study demonstrates a stronger relationship between how many minutes per day a…

A: Given : A standard deviation is a measure of how dispersed the data is in relation to the mean. Low…

Q: Mathematics majors generally have one of the highest starting salaries. Suppose the average starting…

A: For Normal distribution z score = (x-μ)/σx

Q: data set of size 15, with mean 25 and standard deviation 4. If you add two data points, both 25, to…

A: Data set of size 15, with mean 25 and standard deviation 4. i.e. n=15, x̅=25 and σ=4 mean of data is…

Q: Suppose, you play a game, and the result is simply "win" or "lose". For every 15 games played, you…

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Q: Exhibit 6-5 The weight of items produced by a machine is normally distributed with a mean of 8…

A: Given that  Mean = 8 Standard deviation = 2 Find P(X = 8 )

Q: The average number of pounds of red meat a person consumes each year is 196 with a standard…

A: We are given,μ = 196σ = 22n = 60

Q: Suppose the probability a patient will recover from a disease following medication is 0.7. In a…

A: Given : the probability a patient will recover from a disease following medication is 0.7.  In a…

Q: Find the probability that a randomly selected year of rain in Sydney, Australia has a yearly…

A: Given Population mean μ=137, population standard deviations σ=69, Let X be the rain in Sydney Note:…

Q: For a certain group of individuals, the average heart rate is 74 beats per minute. Assume the…

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Q: The middle 95% of a group of 1000 students got scores ranging from 50 to 90 on a math test. If the…

A: Normal Distribution: Understand the properties of the normal distribution, including the mean (μ)…

Q: Assume that adults have IQ scores that are normally distributed with a mean of 100 and a standard…

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Q: The average chef at a restaurant earns $17 an hour with a deviation of $1.75. What are the chances…

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Q: CAN SOMEONE HELP ME SOLVE THIS WORD PROBLEM?

A: It was stated that for a standardized psychology examination intended for psychology majors, the…

Q: Suppose that the scores on a reading ability test are normally distributed with a mean of 65 and a…

A: Given that  Mean = M = 65  Standard deviation = SD = 9 X ~ Normal (M = 65 , SD = 9)

Q: Solve the problem. Assume that mountain lions' weights are normally distributed with a mean of 62.6…

A: We have given that,  X be the random variable from normal distribution with mean (μ) = 62.6 ,…

Q: The average person uses 130 gallons of water daily. If the standard deviation is 35 gallons , find…

A: Given that, Mean = 130 Standard deviation = 35 Sample size = 25

Q: The IQ of highschool seniors is normally distributed with a mean of 100 and a standard deviation of…

A: The sample size is n=15. The population mean is μ=100. The population standard deviation is σ=15. We…

Q: According to government data the probability that an adult was never in a museum is 11%, in a random…

A: Givenp=0.11sample size(n)=20Let "x" be the no.that were never in a…

Q: The weights of steers in a herd are distributed normally. The standard deviation is 200lbs and the…

A: Answer:- Given , The standard deviation, σ = 200lbs  The mean steer weight, μ = 1300lbs  Using…

Q: A professor knows that her statistics students' final exam scores have a mean of 79 and a standard…

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Q: A different investor decides to invest $8000 in Fund A and $3000 in Fund B. Assuming the amounts…

A: Here's how to proceed:### 1. Investment DetailsYou've mentioned investments of $8000 in Fund A and…

Q: Suppose the mean income of firms in the industry for a year is $25 million with a standard deviation…

A: