the average amount parents and children spent per child onback to school clothes

Question

the average amount parents and children spent per child onback to school clothes in Autumn 2001 was $527(cnbc, september 5,2001. Assume the standard deviation is $160 and that theamount spent is normally ditributed.
a. what is the probaility that the amount spent randomlyselected child is moe tha $700? b. what is the probablity that the amount spent on arandomly selected child is between $450 and $700? the average amount parents and children spent per child onback to school clothes in Autumn 2001 was $527(cnbc, september 5,2001. Assume the standard deviation is $160 and that theamount spent is normally ditributed.
a. what is the probaility that the amount spent randomlyselected child is moe tha $700? b. what is the probablity that the amount spent on arandomly selected child is between $450 and $700?

Explanation / Answer

x=mean= $527 sd=standard deviation = $160 calculate z score for 700 z score is (700-527) /160=+1.08, on table 85.99% calculate z score for 450 z score is (450-527) /160= -0.48 on table 31.56% look at the z table to get the percentages listed above
A so 100-85.99 = 14.01 percent spend more B 50-31.56 =18.42 percent spend less

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