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Social ScienceAutomobile 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 $460? (Round your answer to four decimal places.) (b)What is the probability that the cost will be less than $240? (Round your answer to four decimal places.) (c)What is the probability that the cost will be between $240 and $460? (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.)
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.
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It is given that the mean and standard deviation are 367 and 88, respectively.
a)
The required probability is obtained as follows:
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460-367 P(x>460) P 88 -P(>1.06) =1-P(1.06) 1-0.8554 (: Using standard normal table =0.1446
b)
The required probability is ...
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240 367 P(x<240) P 88 =P(<-144) 0.0749 .Using standard nomal table
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