SOLUTION: According to research, the mean cost of safety equipement per year for colleges in Canada is $15,000.00. Suppose that these costs are normally distributed with a standard deviation

Question 1167659: According to research, the mean cost of safety equipement per year for colleges in Canada is $15,000.00. Suppose that these costs are normally distributed with a standard deviation of $5,000.00. If a Canadian College is selected at random, find the following probabilities.
For parts (a), (b), (c) express your answers as probabilities in decimal form (i.e. 0.0003 instead of 0.0300%), and round your answers to 4 decimal places.
(a) The cost is less than $12,650.00.

(b) The cost is above $16,400.00.

(c) The cost is between $12,650.00 to $16,400.00.

For part (d), round your answer to 2 decimal places.
(d) What amount of cost is the cut-off for the top 10.20% of Canadian Colleges?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
z=(x-mean)/sd
a. z < (12650-15000)/5000 or < -0.47
probability is 0.3192
b. is z>0.28 or probability 0.3897
c. is the probability remaining or 0.2911.
The top 10.20% for Canadian colleges is from the table a z-value of 1.27. Using the calculator value and rounding only here to show but rounding only at the end.
1.2702=(x-15000)/5000
6351.19=x-15000
x=$21351.19 as the 10.20%ile to two decimal places.
RELATED QUESTIONS
According to research, the mean cost of safety equipement per year for colleges in Canada (answered by Theo)

According to research, the mean cost of safety equipment per year for colleges in Canada... (answered by ikleyn)

A corporation gave a university $300,000.00 to support product safety research. The... (answered by greenestamps)

3. According to a PEW* Research Center survey, the mean student loan at graduation is... (answered by ikleyn)

How do I do this problem? �Safety, Ethical Considerations, and Application Guidelines... (answered by Boreal)

Jake has decided to invest in three business ventures. The total cost of investing in all (answered by mananth)

Suppose that 62 percent of the graduates from your high school go on to a four year... (answered by ikleyn)

A fabrication company engaged in production with a capacity of 150, 000 pieces per year.... (answered by ankor@dixie-net.com)

I have a word problem need help on. In 2007, there were 13,300 student at college A, (answered by dukesmart)