Hi, 

mean of 10.0 acres and a standard deviation of 1.5 acres.

using Excel function: NORMSDIST

a. percentage of families that own at least 8.1 acres: NORMSDIST(-.2667)· 100 = 10.263%

b. The number of families that own at least 8.1 acres:   .10263(1M) = 102,630

c. The percentage of families that own between 7.0 and 8.1 acres.   

 (NORMSDIST(-.2667) - NORMSDIST(-2.00))100 = (.10263 -.02275)100 = 7.988% 

d. The minimum acreage owned by the 5% of families owning the largest amount of acreage.

using Excel function: NORMSINV(0.05), z = -1.6449

 -1.6449 = (X-10)/1.5

     7.5327 Acres = X

e. If one family from the State of OH is selected at random, what is the probability that family owns more than 8.1 acres or less than 7.0 acres?

P= (1-.1026) + .0228 = .9202

  

 

  

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