The average production cost for major movies is 58 million dollars and the standard deviation is 20 million dollars. Assume the production cost distribution is normal. Suppose that 48 randomly selected major movies are researched. Answer the foling questions. Round all answers to 4 decimal places where possible. a. What is the distribution of X? X ~ N ---------, ------------- b. What is the distribution of x̄? x̄ ~ N -----------, ----------- c. For a single randomly selected movie, find the probability that this movie's production cost is between 57 and 60 million dollars. -------------- d. For the group of 48 movies, find the probability that the average production cost is between 57 and 60 million dollars. --------------- e. For part d), is the assumption of normal necessary? --------------------Yes, -------------No
The average production cost for major movies is 58 million dollars and the standard deviation is 20 million dollars. Assume the production cost distribution is normal. Suppose that 48 randomly selected major movies are researched. Answer the foling questions. Round all answers to 4 decimal places where possible.
a. What is the distribution of X? X ~ N ---------, -------------
b. What is the distribution of x̄? x̄ ~ N -----------, -----------
c. For a single randomly selected movie, find the probability that this movie's production cost is between 57 and 60 million dollars. --------------
d. For the group of 48 movies, find the probability that the average production cost is between 57 and 60 million dollars. ---------------
e. For part d), is the assumption of normal necessary? --------------------Yes, -------------No
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