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With the diagrams please 4. The Federal Reserve reports that the mean lifespan of a five dollar...

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Statistics

With the diagrams please

4. The Federal Reserve reports that the mean lifespan of a fivedollar bill is 4.9 years.   Let’s suppose that thestandard deviation is 2.1 years and that the distribution oflifespans is normal (not unreasonable!)

Find: (a) the probability that a $5 bill will last more than 4years.

(b) the probability that a $5 bill will last between 5 and 7years.

(c) the 94th percentile for the lifespan of thesebills (a time such that 94% of bills last less than that time).

(d ) the probability that a random sample of 37 bills has a meanlifespan of more than 5.1 years.

DON'T FORGET THE DIAGRAMS, PLEASE

Answer & Explanation Solved by verified expert
4.1 Ratings (856 Votes)
4This is a normal distribution question withaPx 40The zscore at x 40 isThis implies thatbP50 x    See Answer
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