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Statistics / Statistical Techniques in Business and Economics 15 / Chapter 7 / Problem 47

Statistical Techniques in Business and Economics | 15th Edition | ISBN: 9780073401805 | Authors: Douglas Lind, William Marchal, Samuel Wathen

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A recent report in USA Today indicated a typical family of four spends $490 per month on

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QUESTION:

A recent report in USA Today indicated a typical family of four spends $490 per month on food. Assume the distribution of food expenditures for a family of four follows the normal distribution, with a mean of $490 and a standard deviation of $90. a. What percent of the families spend more than $30 but less than $490 per month on food? b. What percent of the families spend less than $430 per month on food? c. What percent spend between $430 and $600 per month on food? d. What percent spend between $500 and $600 per month on food?

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QUESTION:

A recent report in USA Today indicated a typical family of four spends $490 per month on food. Assume the distribution of food expenditures for a family of four follows the normal distribution, with a mean of $490 and a standard deviation of $90. a. What percent of the families spend more than $30 but less than $490 per month on food? b. What percent of the families spend less than $430 per month on food? c. What percent spend between $430 and $600 per month on food? d. What percent spend between $500 and $600 per month on food?

ANSWER:

Step 1 of 5

We have,

Mean food expenditure of the family of four is,

And the standard deviation is

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