Normal mu 722 sigma 189 xi P(X<=xi) 151 0.0013 263 0.0076 532 0.1574 721 0.4979 810 0.6793 961 0.8970 P(X<=xi) xi 0.11 490.1862 0.12 499.9275 0.24 588.5088 0.31 628.2843 0.38 664.2641 0.76 855.4912 0.89 953.8138 Use the cumulative normal probability excel output above (dealing with the amount of money parents spend...

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Basic Math

Normal
mu
722
sigma
189
xi
P(X<=xi)
151
0.0013
263
0.0076
532
0.1574
721
0.4979
810
0.6793
961
0.8970
P(X<=xi)
xi
0.11
490.1862
0.12
499.9275
0.24
588.5088
0.31
628.2843
0.38
664.2641
0.76
855.4912
0.89
953.8138

Use the cumulative normal probability excel output above (dealingwith the amount of money parents spend per child on back-to-schoolitems) to answer the following question.

The probability is 0.38 that the amount spent on a randomlyselected child will be between two values (in $) equidistant fromthe mean. The lower of these equidistant points is provided in theexcel output above. Use the lower endpoint and some math to findthe upper endpoint.

Answer & Explanation Solved by verified expert

4.4 Ratings (718 Votes)

Here the probability is 038 that the the amount spent on arandomly selectted child will be between two values in equidistant from the meanthat mean the See Answer

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Normal
mu	722
sigma	189

xi	P(X<=xi)
151	0.0013
263	0.0076
532	0.1574
721	0.4979
810	0.6793
961	0.8970

P(X<=xi)	xi
0.11	490.1862
0.12	499.9275
0.24	588.5088
0.31	628.2843
0.38	664.2641
0.76	855.4912
0.89	953.8138