See attached file.
In recent years, about two-thirds of US house holds purchased ground coffee. Consider the annual ground coffee expenditures for households purchasing ground coffee. Assuming that these expenditures are approximately distributed as a normal random variable with a mean of $65.16 and a standard deviation of $10.00
Using the normal probability file attached:
A. Find the probability that a household spent less than $35.00.
B. Find the probability that a household spent more than $60.00.
C. What proportion of housholds spent between $40.00 and $50.00.
D. 99% of housholds spent less than what amount?
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The solution provides step by step method for the calculation of probability using the Z score. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.