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 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?
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
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 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:
1. What is the probability of family expenses for being
less than $400?
2. What is the probability of family expenses for being
$800 or more?
3. What is the probability that family expenses will be
between $500 and $1000?
4. What would be the Labor Day weekend expenses have
to be for the 5% of the families with the most
expensive travel plans?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2a282ab0-e1ca-40d5-8249-59580ef7a3b8%2F5773f72b-81aa-4dc0-ae49-4ecd1b165d50%2Fu48zhry_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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:
1. What is the probability of family expenses for being
less than $400?
2. What is the probability of family expenses for being
$800 or more?
3. What is the probability that family expenses will be
between $500 and $1000?
4. What would be the Labor Day weekend expenses have
to be for the 5% of the families with the most
expensive travel plans?
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