The average production cost for major movies is 59 million dollars and the standard deviation is 19 million dollars. Assume the production cost distribution is normal. Suppose that 6 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. What is the distribution of X? X-NO b. What is the distribution of ? NO For ringle randomly colected movie find the probability that this mouic's production cort in
The average production cost for major movies is 59 million dollars and the standard deviation is 19 million dollars. Assume the production cost distribution is normal. Suppose that 6 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. What is the distribution of X? X-NO b. What is the distribution of ? NO For ringle randomly colected movie find the probability that this mouic's production cort in
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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
Transcribed Image Text:The average production cost for major movies is 59 million dollars and the standard deviation is 19 million dollars. Assume the production cost distribution is normal. Suppose that 6 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. What is the distribution of \( X \)? \( X \sim N(\text{\_\_\_}, \text{\_\_\_}) \)
b. What is the distribution of \( \bar{X} \)? \( \bar{X} \sim N(\text{\_\_\_}, \text{\_\_\_}) \)
c. For a single randomly selected movie, find the probability that this movie's production cost is between 56 and 59 million dollars. \(\_\_\_\_\_\_\_\_\_\_ \)
d. For the group of 6 movies, find the probability that the average production cost is between 56 and 59 million dollars. \(\_\_\_\_\_\_\_\_\_\_ \)
e. For part d), is the assumption of normal necessary? \( \circ \) Yes \( \circ \) No
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