document.write( "Question 663557: Most four-year automobile leases allow up to 77,000 miles. If the lessee goes beyond this amount, a penalty of 20 cents per mile is added to the lease cost. Suppose the distribution of miles driven on four-year leases follow the normal distribution. The mean is 65,000 miles and the standard deviation is 5,000 miles.\r
\n" ); document.write( "\n" ); document.write( "What percent of the leases will yield a penalty because of excess mileage?\r
\n" ); document.write( "\n" ); document.write( "<< This is just one sample problem for my homework. I cannot seem to understand the process to answering these questions. Please show all formulas and calculations so that I can learn from this >> \n" ); document.write( "

Algebra.Com's Answer #412846 by stanbon(75887) $\"\"$ $\"About$

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Most four-year automobile leases allow up to 77,000 miles. If the lessee goes beyond this amount, a penalty of 20 cents per mile is added to the lease cost. Suppose the distribution of miles driven on four-year leases follow the normal distribution. The mean is 65,000 miles and the standard deviation is 5,000 miles.\r
\n" ); document.write( "\n" ); document.write( "What percent of the leases will yield a penalty because of excess mileage?
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\n" ); document.write( "z(77000) = (77000-65000)/5000 = 12/5 = 2.4
\n" ); document.write( "----
\n" ); document.write( "P(milage > 77000) = P(z > 2.4) = normalcdf(2.4,100) = 0.0082
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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