Answered: he American Automobile Association…

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 American Automobile Association (AAA) reported that families planning to travel over the Labor Day weekend would spend an average of $749 (The Associated Press,August 12, 2012). Assume that the amount spent is normally distributed with a standard deviation of $225.
a. What is the probability of family expenses for the weekend being less that $400?
b. What is the probability of family expenses for the weekend being $800 or more?
c. What is the probability that family expenses for the weekend will be between $500 and $1000?
d. What would the Labor Day weekend expenses have to be for the 5% of the families with the most expensive travel plans?

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.

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