Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. question 2   according to michael theatre l

QUESTION 2   According to Michael Theatre Ltd., the mean cost to run a nightly theatre performance...

50.1K

Verified Solution

Question

Statistics

QUESTION 2  

According to Michael Theatre Ltd., the mean cost to run anightly theatre performance is $3,200 with a standard deviation of$460. Performance costs are known to follow a normalprobability distribution.

Required:

  1. What percentage of the performances will cost less than $2,850to run? Sketch a normal curve and shade the desired area on yourdiagram. ( 4 marks)
  2. What percentage of the performances will cost between $3,250and $3,520 to run? Sketch a normal curve and shade the desired areaof your diagram. ( 4 marks)
  3. What percentage of the performances will cost between $2,300and $3,520 to run? Sketch a normal curve and shade the desired areaon your diagram. ( 4 marks)
  4. What percentage of the performances will cost less than $3,750to run? Sketch a normal curve and shade the desired area of yourdiagram. Also, Six percent (6 %) of all shows will cost less thanwhat dollar amount? Sketch a normal curve and shade the desiredarea of your diagram. ( 8 marks)

I Need the full calculation and explanation of theanswers.

Answer & Explanation Solved by verified expert
4.0 Ratings (811 Votes)
We are given that the mean performance cost 3200 and 460 We know that any Normal distribution can be transformed to astandard normal variate by the transformationa Percentage of the performances will cost less than 2850 torun Percentage of the performances will cost less than2850 to    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Because the young woman was pushed from the sky A. she was never heard of...

Biology
Q

If there were very high carbon dioxide conditions (95%) within an environment, what 3 elements of...

Biology
Q

With proper Rheological diagrams and suitable examples for each, discuss all the different types of non-Newtonian fluids...

Physics
Q

A researcher is planning to conduct a narrative study on the way non-traditional learners define their...

Psychology
Q

Phenylketonuria is a genetic disease in which individuals are unable to metabolize which amino acid...

Biology
Q

The region is formed by the graphs of y 3 2x and y 8 x...

Calculus
Q

A common finding in many studies is that a high percentage of operating income is:...

Accounting
Q

Exercise 21-15 (Algo) Direct materials and direct...

Accounting
Q

BE10.11 ...

Accounting
Q

115.) Jim, a Single filing status taxpayer, paid $15,000 real estate taxes, $12,000 state income...

Accounting
Q

Zoning ordinances are usually established by? A. Construction standards B. Lower discount points C. Town...

Accounting
Q

20 Given the following ratio relationships: D/A = 0.62 N/E = 0.26 D+E=A What...

Finance