Normal distribution with a standard deviation
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According to a retail electronics chain, adults in the 40 to 50 year old age group, the mean amount spent per year on electronics is $1998. Assume that the amount spent follows a normal distribution with a standard deviation of $550.
a. What percent of adults in this age group spend more than $2500 per year on electronics?
b. What percent spend between $2500 and $3000?
c. What percent spend less than $2000?
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Solution Summary
The solution provides a detailed explanation how to calculate the probability percentages for different amounts of money spent per year on electronics.
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