The average production cost for major movies is 61 million dollars and the standard deviation is 21 million dollars. Assume the production cost distribution is normal. Suppose that 17 randomly selected major movies are researched. Answer the following questions. Round all answers to 4 decimal places where possible.For the group of 17 movies, find the probability that the average production cost is between 62 and 66 million dollars. For part d), is the assumption of normal necessary? YesNo

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Asked Nov 16, 2019
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The average production cost for major movies is 61 million dollars and the standard deviation is 21 million dollars. Assume the production cost distribution is normal. Suppose that 17 randomly selected major movies are researched. Answer the following questions. Round all answers to 4 decimal places where possible.

  1. For the group of 17 movies, find the probability that the average production cost is between 62 and 66 million dollars. 
  2. For part d), is the assumption of normal necessary? YesNo

 

 

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  1. Probability that average production cost is between 62 and 66 million dollars:

The probability that the average production cost is betw...

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62-61 x 66-61 21 P(62< < 66) P 21 17 V17 P(0.1963<z<0.9817) =P(z<0.9817)- P(z<0.1963) using EXCEL fomula 0.5778 NORM S.DIST (0.9817,TRUE)" P(z< 0.9817) 0.5778 using EXCEL formula 0.8369 NORM.S.DIST (0. 1963,T RUE)", P(z<0.1963)= 0.8349 =0.8369 0.5778 = 0.2590

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