Wednesday

September 17, 2014

September 17, 2014

Posted by **Lori** on Saturday, April 17, 2010 at 11:18pm.

- Math -
**MathMate**, Sunday, April 18, 2010 at 7:48amThe standard deviation, σ, is $50. The mean is $900.

To spend less than $750 means that the spending is less than mean - 3σ.

The probability of this happening, assuming the spending follows the normal distribution curve, can be found from the normal distribution tables, for example:

http://www.math.unb.ca/~knight/utility/NormTble.htm

where the probability for the tail end of 3σ is 0.001350, or 0.135%.

**Answer this Question**

**Related Questions**

PROBABILITY - The total amount being spent on personal calls in a month by ...

MATH - Which of the following normal distributions has the smallest spread? A. A...

Math-Value of Mean - A brewery has a beer dispensing machine that dispenses beer...

Statistics - A telephone company receives 3 calls every minute on an average. If...

Math (Statistic) - Considered the sampling distribution of a sample mean ...

statistic - The mean salary per day of all the 5000 employees who work in a ...

statistics - It is estimated that amounts of money spent on gasoline by ...

Statistics (Math) - A government report looked at the amount borrowed for ...

Stats - The amount of time Ricardo spends brushing his teeth follows a Normal ...

Math - I have a problem on standard deviation, and I will need some help with it...