The average production cost for major movies is 59 million dollars and the standard deviation is 18 million dollars. Assume the production cost distribution is normal. Suppose that 39 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.What is the distribution of XX? XX ~ N(,)What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)For a single randomly selected movie, find the probability that this movie's production cost is between 56 and 61 million dollars. For the group of 39 movies, find the probability that the average production cost is between 56 and 61 million dollars. For part d), is the assumption of normal necessary? NoYesPlease answer for questions 2 through 4.

Solution: 2. Let X be the production cost for major movies. From the given information, X follows…

Answered: The average production cost for major…

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 average production cost for major movies is 59 million dollars and the standard deviation is 18 million dollars. Assume the production cost distribution is normal. Suppose that 39 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.

What is the distribution of XX? XX ~ N(,)
What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)
For a single randomly selected movie, find the probability that this movie's production cost is between 56 and 61 million dollars.
For the group of 39 movies, find the probability that the average production cost is between 56 and 61 million dollars.
For part d), is the assumption of normal necessary? NoYes

Please answer for questions 2 through 4.

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