Find the probability that a consumer spent less than $1,000 on consumer electronics.

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Answer 1

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

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Answer 2

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Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

Expert Solution & Answer

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Answer 3

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

Expert Solution & Answer

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Answer 4

Question

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

Expert Solution & Answer

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Answer 5

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

Answer 6

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

Answer 7

Chapter 6, Problem 48PS

a.

To determine

Find the probability that a consumer spent less than $1,000 on consumer electronics.

Answer 8

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

Answer 9

b.

To determine

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

Answer 10

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

Answer 11

c.

To determine

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

Answer 12

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

Answer 13

d.

To determine

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 6 - Given a standardized normal distribution (with a...Ch. 6 - Given a standard normal distribution (with a mean...Ch. 6 - Given a standardized normal distribution (with a...Ch. 6 - Given a standardized normal distribution (with a...Ch. 6 - Given a normal distribution with =100 and =10,...Ch. 6 - Given a normal distribution with =50 and =4, what...Ch. 6 - Prob. 7PS Ch. 6 - Tobyâ€™s Trucking Company determined that the...Ch. 6 - Prob. 9PS Ch. 6 - A Set of final examination grades in an...

Find the probability that a consumer spent less than $1,000 on consumer electronics.

Solution Summary: The author calculates the probability that a consumer spent less than 1,000 on consumer electronics using their mobile device. The required probability is 0.1401.

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Find the probability that a consumer spent less than $1,000 on consumer electronics.

Find the probability that a consumer spent between $2500 and $3000 on consumer electronics.

Determine the value of amount below which ninety percent of the amounts spent on consumer electronics by the mobile device owner who used their mobile device while shopping for consumer electronics lie.

Find the two values of amount which are symmetrically distributed around the mean and between which eighty percent of the amounts spent on consumer electronics by mobile device owners who used their mobile device while shopping for consumer electronics lie.

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Chapter 6 Solutions