Question
3. The mean amount spent by a family of four on food is $500 per month...
3. The mean amount spent by a family of four on food is $500 per month with a standard deviation of $75. Assume that the food costs are normally distributed. • What is the probability that a family spends less than $410 per month? • What is the percentage of families that spend $400 to $600 per month?
Homework Answers
Answer #1
Let Y be the amount spend by the family of four on food. So,
The probability that a family spends less than $410 per month is calculated by using the z-table as,
Therefore, the required probability is 0.1151.
The probability that a family spends $400 to $600 per month is calculated by using the z-table as,
Hence, the percentage of families that spend $400 to $600 per month is 81.64%.
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