The average production cost for major movies is 57 million dollars and the standard deviation is 23 million dollars. Assume the production cost distribution is normal. Suppose that 17 randomly selected major movies are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round all answers to 4 decimal places where possible.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
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The average production cost for major movies is 57 million dollars and the standard deviation is 23 million
dollars. Assume the production cost distribution is normal. Suppose that 17 randomly selected major
movies are researched. Answer the following questions. Give your answers in millions of dollars, not
dollars. Round all answers to 4 decimal places where possible.
Transcribed Image Text:The average production cost for major movies is 57 million dollars and the standard deviation is 23 million dollars. Assume the production cost distribution is normal. Suppose that 17 randomly selected major movies are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round all answers to 4 decimal places where possible.
c. For a single randomly selected movie, find the probability that this movie's production cost is
between 56 and 58 million dollars.
d. For the group of 17 movies, find the probability that the average production cost is between 56 and
58 million dollars.
e. For part d), is the assumption of normal necessary? Yes No
Transcribed Image Text:c. For a single randomly selected movie, find the probability that this movie's production cost is between 56 and 58 million dollars. d. For the group of 17 movies, find the probability that the average production cost is between 56 and 58 million dollars. e. For part d), is the assumption of normal necessary? Yes No
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