QUESTION 2 (20 marks) According to Michael Theatre Ltd., the mean cost to run a nightly...

QUESTION 2

According to Michael Theatre Ltd., the mean cost to run a nightly theatre performance is $3,100 with a standard deviation of $440. Performance costs are known to follow a normal probability distribution.

Required:

What percentage of the performances will cost less than $2,850 to run? Sketch a normal curve and shade the desired area on your diagram. ( 4 marks)

What percentage of the performances will cost between $3,150 and $3,520 to run? Sketch a normal curve and shade the desired area of your diagram. ( 4 marks)

What percentage of the performances will cost between $2,300 and $3,520 to run? Sketch a normal curve and shade the desired area on your diagram. ( 4 marks)

What percentage of the performances will cost less than $3,750 to run? Sketch a normal curve and shade the desired area of your diagram. ( 4 marks)

Six percent (6 %) of all shows will cost less than what dollar amount? Sketch a normal curve and shade the desired area of your diagram. ( 4 marks)

Solutions

Expert Solution

orchestra answered 1 year ago

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