Strictly homework! Please help answer all of the questions! Thanks The average production cost for major movies is 60 million dollars and the standard deviation is 22million dollars. Assume the production cost distribution is normal. Suppose that 37 randomlyselected major movies are researched. Answer the following questions. Give your answers inmillions of dollars, not dollars. Round all answers to 4 decimal places where possible.a. What is the distribution of X? X ~ Nb. What is the distribution of ¤? ¤ ~ Nc. For a single randomly selected movie, find the probability that this movie's production cost isbetween 56 and 59 million dollars.d. For the group of 37 movies, find the probability that the average production cost is between56 and 59 million dollars.e. For part d), is the assumption of normal necessary? O No Yes

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Description: Strictly homework! Please help answer all of the questions! Thanks The average production cost for major movies is 60 million dollars and the standard deviation is 22million dollars. Assume the production cost distribution is normal. Suppose that 37

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MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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Strictly homework! Please help answer all of the questions! Thanks

The average production cost for major movies is 60 million dollars and the standard deviation is 22
million dollars. Assume the production cost distribution is normal. Suppose that 37 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 ~ N
b. What is the distribution of ¤? ¤ ~ N
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 37 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? O No Yes

Expert Solution

Step 1

When we substitute mean=0, standard deviation =1 to the probability mass function of the normal distribution, it becomes a standard normal distribution. Here parameters $μ and σ$ . The total area under the normal curve is one.

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