The American Automobile Association (AAA) reported that families planning to travel over the Labor Day weekend would spend an average of $749 (The Associated Press, August 12, 2012). Assume that the amount spent is normally distributed with a standard deviation of $225. a. W hat is the probability of family expenses for the weekend being less that $400? b. W hat is the probability of family expenses for the weekend being $800 or more? c. W hat is the probability that family expenses for the weekend will be between $500 and $1000? d. W hat would the Labor Day weekend expenses have to be for the 5% of the families with the most expensive travel plans?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
The American Automobile Association (AAA) reported that families planning to travel
over the Labor Day weekend would spend an average of $749 (The Associated Press,
August 12, 2012). Assume that the amount spent is
deviation of $225.
a. W hat is the
b. W hat is the probability of family expenses for the weekend being $800 or more?
c. W hat is the probability that family expenses for the weekend will be between $500
and $1000?
d. W hat would the Labor Day weekend expenses have to be for the 5% of the families
with the most expensive travel plans?
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