The closing price of Schnur Sporting Goods Inc. common stock isuniformly distributed between $18 and $32 per share.
What is the probability that the stock price will be:
a. More than $29 (Round your answer to 4 decimalplaces.)
Probability____________
b. Less than or equal to $23? (Roundyour answer to 4 decimal places.)
Probability____________
b1
The distribution of the number of viewers for the AmericanIdol television show follows a normal distribution with a meanof 30 million with a standard deviation of 10 million.
What is the probability next week's show will:
a. Have between 34 and 43 million viewers?(Round your z-score computation to 2decimal places and final answer to 4 decimalplaces.)
Probability____________
b. Have at least 26 million viewers? (Roundyour z-score computation to 2 decimal places and finalanswer to 4 decimal places.)
Probability____________
c. Exceed 56 million viewers?(Round your z-score computation to 2decimal places and final answer to 4 decimalplaces.)
Probability____________
c1.
For the most recent year available, the mean annual cost toattend a private university in the United States was $20,132.Assume the distribution of annual costs follows the normalprobability distribution and the standard deviation is $4,450.
Ninety percent of all students at private universities pay lessthan what amount? (Round your z value to 2 decimalplaces and final answer to the nearest whole dollar.)
amount ___________
d1.
Assume that the hourly cost to operate a commercial airplanefollows the normal distribution with a mean of $4,230 per hour anda standard deviation of $379.
What is the operating cost for the lowest 4% of the airplanes?(Round your z value to 2 decimal places and finalanswer to the nearest whole dollar.)
Operating Cost________________
d2. The annual commissions earned by salesrepresentatives of Machine Products Inc., a manufacturer of lightmachinery, follow the normal probability distribution. The meanyearly amount earned is $40,000 and the standard deviation is$5,000.
What percent of the sales representatives earn more than $42,000per year? (Round z-score computation and finalanswer to 2 decimal places.)
Percent____________
What percent of the sales representatives earn between $32,000and $42,000? (Round z-score computation and finalanswer to 2 decimal places.)
percent_____________________
What percent of the sales representatives earn between $32,000and $35,000? (Round z-score computation and finalanswer to 2 decimal places.)
The sales manager wants to award the sales representatives whoearn the largest commissions a bonus of $1,000. He can award abonus to 20% of the representatives. What is the cutoff pointbetween those who earn a bonus and those who do not? (Roundyour answer to the nearest dollar amount.)
Cutoff point_____________________
