Answered: about the cost of automobile repairs.…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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QUESTION 5

You may need to use the appropriate appendix table to answer this question.

Automobile repair costs continue to rise with the average cost now at $367 per repair.† Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs.

(a)

What is the probability that the cost will be more than $470? (Round your answer to four decimal places.)

(b)

What is the probability that the cost will be less than $260? (Round your answer to four decimal places.)

(c)

What is the probability that the cost will be between $260 and $470? (Round your answer to four decimal places.)

(d)

If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.)

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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