Computing Probabilities for Ground Coffee Amounts Spent
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In a recent year, about two-thirds of U.S. households purchased ground coffee. Consider the annual ground coffee expenditures for households purchasing ground coffee, assuming that these expenditures are approximately normally distributed as a normal random variable with a mean of $45.16 and a standard deviation of $10.00.
1. Find the probability that a household spent less than $25.00.
2. Find the probability that a household spent more than $50.00.
3. What proportion of the households spent between $30.00 and $40.00?
4. 99% of households spent less than what amount?
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Solution Summary
The expert computes probabilities for ground coffee amounts spent. A complete, neat and step-by-step solution is provided to find the probabilities, z-scores and proportions.
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mu = 45.16, sigma = 10, z = (x - mu)/sigma
(a) z = (25 - 45.16)/10 = -2.016
P(x < $25) = P(z < ...
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