Question

You want to know the percentage of utility companies that earned revenue less than 76 million...

You want to know the percentage of utility companies that earned revenue less than 76 million dollars. If the mean revenue was 90 million dollars and the data has a standard deviation of 18 million, find the percentage. Assume that the distribution is normal. Round your answer to the nearest hundredth.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Solution :

Given, X follows Normal distribution with,

   = 90

   = 18

Find P(X < 76)

= P[(X - )/ <  (76 - )/]

= P[Z <  (76 - 90)/18]

= P[Z < -0.778]

= 0.2183 ... ( use z table)

P(X < 76) = 21.83%

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Last year, the revenue for medical equipment companies had a mean of 80 million dollars with...
Last year, the revenue for medical equipment companies had a mean of 80 million dollars with a standard deviation of 23 million. Find the percentage of companies with revenue less than 18 million or more than 142 million dollars. Assume that the distribution is normal. Round your answer to the nearest hundredth.
For a normal distribution, find a) the percentage of data that is greater than 3 standard...
For a normal distribution, find a) the percentage of data that is greater than 3 standard deviations above the mean and b) the percentage of data that is less than 2 standard deviations below the mean.
You want to estimate the mean number of chocolate chips in cookies. The average number of...
You want to estimate the mean number of chocolate chips in cookies. The average number of chocolate chips per cookie in a sample of 40 cookies was 23.95, with a sample standard deviation of 2.55. (A) Find a 90% confidence interval for the mean number of chocolate chips using the t-distribution. (B) Find a 90% confidence interval for the mean number of chocolate chips using the standard normal distribution (for this question, assume the population standard deviation is equal to...
Suppose you want to know if the average age of CEO’s at fortune 500 companies has...
Suppose you want to know if the average age of CEO’s at fortune 500 companies has increased in recent years. In 2010 you took a sample of 30 CEO’s and find their average age is 47 with a sample variance of s 2 2 = 36. In 2016 you took a sample of 25 CEO’s and find their average age is 50 with a sample variance of S 1 2 = 25. Assume the degrees of freedom is 42 What...
1. How much does a sleeping bag cost? Let's say you want a sleeping bag that...
1. How much does a sleeping bag cost? Let's say you want a sleeping bag that should keep you warm in temperatures from 20°F to 45°F. A random sample of prices ($) for sleeping bags in this temperature range is given below. Assume that the population of x values has an approximately normal distribution. 75 95 55 105 110 115 30 23 100 110 105 95 105 60 110 120 95 90 60 70 (a) Use a calculator with mean...
Do you want to own your own candy store? Wow! With some interest in running your...
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution. Do you want...
1) Do you want to own your own candy store? Wow! With some interest in running...
1) Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution. 96 176...
1. What is the probability of randomly selecting a z-score less than z = −0.80 from...
1. What is the probability of randomly selecting a z-score less than z = −0.80 from a normal distribution? 2. A normal distribution has a mean of μ = 80 with σ = 12. Find the following probabilities. (a) p(X > 83) _______________ (b) p(X < 74) ______________ (c) p(X < 92) ______________ (d) p(71 < X < 89) __________ 3. Accrotime is a manufacturer of quartz crystal watches. Accrotime researchers have shown that the watches have an average life...
1. A distribution of values is normal with a mean of 110.8 and a standard deviation...
1. A distribution of values is normal with a mean of 110.8 and a standard deviation of 33.5. Find the probability that a randomly selected value is less than 20.7. P(X < 20.7) = Enter your answer as a number accurate to 4 decimal places. *Note: all z-scores must be rounded to the nearest hundredth. 2. A distribution of values is normal with a mean of 2368.9 and a standard deviation of 39.4. Find the probability that a randomly selected...
Do you want to own your own candy store? Wow! With some interest in running your...
Do you want to own your own candy store? Wow! With some interest in running your own business and a decent credit rating, you can probably get a bank loan on startup costs for franchises such as Candy Express, The Fudge Company, Karmel Corn, and Rocky Mountain Chocolate Factory. Startup costs (in thousands of dollars) for a random sample of candy stores are given below. Assume that the population of x values has an approximately normal distribution. 90 175 132...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT