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Normal Probability: Ground Coffee Expenditures

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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Solution Summary

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.

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