The manager of a local video rental store believes that the total revenue of the

Question

The manager of a local video rental store believes that the total revenue of the store can be approximated by a normal distribution with mean of $250,000 and a standard deviation of $30,000. If the manager is using this model to predict next year's total revenue, what is the probability that the total sales will be more than the mean by at least $10,000? Suppose the monthly family incomes in a town are normally distributed with the mean of $1200 and a standard deviation of $600. The government will issue food stamps to the families whose monthly income is in the bottom 20%. What is the largest amount a family can earn while being eligible for this government assistance? The manufacturer of cans of salmon that are supposed to have a net weight of 6 ounces tells you that the net weight is actually normally distributed with mean of 6.05 ounces and a standard deviation of 0.18 ounces. If a can is randomly selected, what is the probability that it weighs less than 5.97 ounces? The weekly amount of money spent on maintenance and repairs by a company was observed, over a long period of time, to be approximately normally distributed with mean $400 and standard deviation $20. If $450 is budgeted for next week, what is the probability that the actual costs will exceed tike budgeted amount? The speeds of cars traveling on New Jersey highways are normally distributed with mean 60 mph and standard deviation 5 mph. If New Jersey police follow a policy of ticketing only the fastest 6 percent, at what speed do the police start to issue tickets? (Round up your answer to the next whole number). When fishing off the shores of Florida, a spotted sea trout must be between 14 and 22 inches long before it can be kept; otherwise, it must be returned to the water. In the region of the Gulf of Mexico, the lengths of spotted sea trout that are caught are normally distributed with a mean of 22 inches and a standard deviation of 4 inches. Assume that each spotted sea trout is equally likely to be caught by a fisherman.

Explanation / Answer

3. Here mean=250000 and sd=30000

Here we need to fnd P(x>=250000+10000)=P(x>=260000)

Now as it is given that distribution is normal we will convert x to z

P(x-mean/sd>=260000-250000/30000)=P(z>=1/3)=0.5-P(0<z<0.33)=0.5-0.1293=0.3707

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