Please work question 24. A through D. With steps CHAPTER 6 Continuous Probabilit

Question

Please work question 24. A through D. With steps CHAPTER 6 Continuous Probability Distributions CONTENTS 6.3 NORMALAPPROXIMATION OF BINOMIAL STATISTICS IN PRACTICE: PROBABILITIES PROCTER & GAMBLE 6.4 EXPONENTIAL 6I UNIFORM PROBABILITY PROBABILITY DISTRIBUTION DISTRIBUTION Area as a Measure of Probability Computing Probabilities for the Exponential Distribution 62 NORMAL PROBABILITY Relationship Between the DISTRIBUTION Poisson and Exponential Normal Curve Distributions Standard Normal Probability Distribution Computing Probabilities for Any Normal Probability Distribution Grear Tire Company Problem

Explanation / Answer

Mean = 749

Standard Deviation = 225

a) Z-Score for 400 => (400 - 749)/225 = -1.5511

=> P( Z < -1.5511 ) = 0.0604

b) Z-Score for 800 => (800 - 749)/225 = 0.22667

=> P( Z > 0.22667 ) = 0.4103

c) Z-Score for 500 => (500 - 749)/225 = -1.10667

Z-Score for 1000 => (1000 - 749)/225 = 1.1155

=> P( -1.10667 < Z < 1.1155 ) = 0.7335

d) Z-Score for Top 5% => 1.645 ( From Z-Score Table)

=> (X - 749)/225 = 1.645

=> X ~ 1119.125

Therefore , expenses should be greater than $1119.125

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