The American Automobile Association (AAA) reported that families planning to travel over the labor day weekend would spend an average of $749. Assume that the amount spent is normally distributed with a standard deviation of $225. Answer the following questions:What is the probability of family expenses for being less than $400?What is the probability of family expenses for being $800 or more?What is the probability that family expenses will be between $500 and $1000?What would be the Labor Day weekend expenses have to be for the 5% of the families with the most expensive travel plans? The American Automobile Association (AAA) reported thatfamilies planning to travel over the labor day weekend wouldspend an average of $749. Assume that the amount spent isnormally distributed with a standard deviation of $225.Answer the following questions:1. What is the probability of family expenses for beingless than $400?2. What is the probability of family expenses for being$800 or more?3. What is the probability that family expenses will bebetween $500 and $1000?4. What would be the Labor Day weekend expenses haveto be for the 5% of the families with the mostexpensive travel plans?

Given data: Mean = 749 Standard deviation = 225 To find the given probabilities

Answered: The American Automobile Association…

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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The American Automobile Association (AAA) reported that families planning to travel over the labor day weekend would spend an average of $749. Assume that the amount spent is normally distributed with a standard deviation of $225. Answer the following questions:

What is the probability of family expenses for being less than $400?
What is the probability of family expenses for being $800 or more?
What is the probability that family expenses will be between $500 and $1000?
What would be the Labor Day weekend expenses have to be for the 5% of the families with the most expensive travel plans?