What is the distribution of x¯? x¯ ~ N(,) For a single randomly selected movie, find the probability that this movie's production cost is between 60 and 62 million dollars. For the group of 12 movies, find the probability that the average production cost is between 60 and 62 million dollars. For part d), is the assumption of normal necessary? No Yes
What is the distribution of x¯? x¯ ~ N(,) For a single randomly selected movie, find the probability that this movie's production cost is between 60 and 62 million dollars. For the group of 12 movies, find the probability that the average production cost is between 60 and 62 million dollars. For part d), is the assumption of normal necessary? No Yes
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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The average production cost for major movies is 63 million dollars and the standard deviation is 21 million dollars. Assume the production cost distribution is normal. Suppose that 12 randomly selected major movies are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round all answers to 4 decimal places where possible.
- What is the distribution of x¯? x¯ ~ N(,)
- For a single randomly selected movie, find the probability that this movie's production cost is between 60 and 62 million dollars.
- For the group of 12 movies, find the probability that the average production cost is between 60 and 62 million dollars.
- For part d), is the assumption of normal necessary? No Yes
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