Question

In: Statistics and Probability

The selling price of a new car is normally distributed with an average of $21770 and...

The selling price of a new car is normally distributed with an average of $21770 and a variance of $5290000.00.

a) What proportion of new cars will sell for more than $19760?
probability =

Is the answer .808914?

b) Assuming a normal distribution, within what selling prices will the middle 83% fall?
lower = , upper =

could I see the work out for part b? thank you

Note: Do NOT input probability responses as percentages; e.g., do NOT input 0.9194 as 91.94.

Expert Solution

From Z-table, Lookup for Z-value corresponding to area 0.085 to the left of the normal curve.

From Z-table, Lookup for Z-value corresponding to area 0.085 to the right of the normal curve.

orchestra answered 1 year ago

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