Logo
Home Study Material Contact Search
AI Chat FREE
  1. mathematics
  2. statistics
  3. with the diagrams please 4. the federal reserve re

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

80.2K

Verified Solution

Question

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
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

Identify the Distribution Select the Distribution that best fits the definition of the random variable X in...

Statistics
Q

In essay format, give a detailed explanation of linear regression, talking about what it is, its...

Statistics
Q

Q 21 A current carrying closed loop in the form of a right angle isosceles...

Physics
Q

a 30 60 90 triangle which leg is shorter The side opposite the angle measuring...

Geometry
Q

If f(-2) = 5, then the point is on the graph of f.Enter an n-tuple...

Algebra
Q

4 Find the values of y so that the distance from 0 2 to 12...

Algebra
Q

On January 1, 20X5,...

Accounting
Q

Fifteen years ago, Mr. Fairhold paid $50,000 for a single-premium annuity contract. This year, he...

Accounting
Q

The general ledger account for Accounts Receivable shows a debit balance of $50,000. Allowance for...

Accounting
Q

please solve a) Weygandt, Managerial Accounting, Fifth Canadian Edition FUNDAMENTALS OF MGMT ACCOUNTING (ADMN...

Accounting
Q

In the late 1980s and early 1990s, public universities discovered that they were no longer...

Accounting
Q

The balance sheet for Yakima Corporation reported the following: noncurrent assets, $180,000; total assets, $440,000;...

Accounting