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Probability

According to a government study among adults in the 25- to 34-year age group, the mean amount spent per year on reading and entertainment is $2,020. Assume that the distribution of the amounts spent follows the normal distribution with a standard deviation of $456. (Round z-score computation to 2 decimal places and your final answer to 2 decimal places. Omit the "%" sign in your response.)

(a) What percent of the adults spend more than $2,600 per year on reading and entertainment?

(b) What percent spend between $2,600 and $2,900 per year on reading and entertainment?

(c) What percent spend less than $1,200 per year on reading and entertainment?

Solution Summary

This solution is comprised of detailed step-by-step calculations and analysis of the given problem and provides students with a clear perspective of the underlying concepts.

$2.19