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Automobile repair costs continue to rise with the average cost now at $367 per repair.† Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. (b) What is the probability that the cost will be less than $260? (Round your answer to four decimal places.) (c) What is the probability that the cost will be between $260 and $480? (Round your answer to...
Automobile repair costs continue to rise with the average cost now at $367 per repair. Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. (a) What is the probability that the cost will be more than $450? (Round your answer to four decimal places.) (b) What is the probability that the cost will be less than $220? (Round your answer to four...
Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. News & World Report website, January 5, 2015). Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. a) What is the probability that the cost will be more than $450? b) What is the probability that the cost will be less than $250? c) What is...
Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. News & World Report website, January 5, 2015). Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. a. What is the probability that the cost will be more than $450 (to four decimals)? b. What is the probability that the cost will be less than $250...
1. Exhibit 22-13 Quantity of Output (Q) Total Fixed Cost (TFC) Average Fixed Cost (AFC) Total Variable Cost (TVC) Average Variable Cost (AVC) Total Cost (TC) Average Total Cost (ATC) Marginal Cost (MC) 0 $200 $0 $200 1 $200 (A) 30 (H) 230 (M) (S) 2 $200 (B) 50 (I) 250 (N) (T) 3 $200 (C) (F) $26.67 (K) (P) (U) 4 $200 (D) 130 (J) 330 (Q) (V) 5 $200 (E) (G) $40 (L) (R) (W) Refer to Exhibit...
The average price of a new iPhone is $800. Assume the price follows a normal distribution with a standard deviation of $50. 1. What is the probability that a randomly selected iPhone sells for less than $750? 2. What is the probability that a randomly selected iPhone sells for more than $880? 3. What is the probability that a randomly selected iPhone sells between $770 and $840?
Exhibit 22-13 Quantity of Output (Q) Total Fixed Cost (TFC) Average Fixed Cost (AFC) Total Variable Cost (TVC) Average Variable Cost (AVC) Total Cost (TC) Average Total Cost (ATC) Marginal Cost (MC) 0 $200 $0 $200 1 $200 (A) 30 (H) 230 (M) (S) 2 $200 (B) 50 (I) 250 (N) (T) 3 $200 (C) (F) $26.67 (K) (P) (U) 4 $200 (D) 130 (J) 330 (Q) (V) 5 $200 (E) (G) $40 (L) (R) (W) Refer to Exhibit 22-13. What...
% 7.4.12-T Question Help Assume the average price for a movie is $11.62. Assume the population standard deviation is $0.55 and that a sample of 36 theaters was randomly selected. Complete parts a through d below. a. Calculate the standard error of the mean. 0- = 5.0917 (Round to four decimal places as needed.) b. What is the probability that the sample mean will be less than $11.79? P(x<$11.79) = 9678 (Round to four decimal places as needed.) c. What...
Question 3 The average yearly cost per household of owning a dog is $186.80. Suppose that we randomly select 50 households that own a dog. Assume o = $32.00. What is the probability that the sample mean for these 50 households is between $195 and $200?
You may need to use the appropriate appendix table to answer this question. Automobile repair costs continue to rise with the average cost now at $367 per repair.† Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs. (a) What is the probability that the cost will be more than $490? (Round your answer to four decimal places.) (b) What is the probability...