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Data from the Bureau of Labor Statistics’ Consumer Expenditure Survey (CE) show that annual expenditures for...

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Basic Math

Data from the Bureau of Labor Statistics’ Consumer ExpenditureSurvey (CE) show that annual expenditures for cellular phoneservices per consumer unit increased from $237 in 2001 to $634 in2007. Let the standard deviation of annual cellular expenditure be$52 in 2001 and $207 in 2007.

What is the probability that the average annual expenditure of125 cellular customers in 2001 exceeded $220? (Round“z” value to 2 decimal places, and final answer to 4decimal places.)

  Probability  
b.

What is the probability that the average annual expenditure of125 cellular customers in 2007 exceeded $607? (Round“z” value to 2 decimal places, and final answer to 4decimal places.)

  Probability  

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