Research and Statistics
posted by Moreen on .
2. The results of a recent survey indicate that the average new car costs $23,000, with a standard deviation of $3,500. The price of cars is normally distributed.
a. What is a Z score for a car with a price of $ 33,000?
b. What is a Z score for a car with a price of $30,000?
c. At what percentile rank is a car that sold for $30,000?
Z = (score-mean)/SD = (33,000-23,000)/3500 = 10,000/3,500 = 2.86
Do the same for 30,000.
Find table in the back of your statistics text labeled something like "areas under normal distribution" to find the proportion related to the second Z score.