Question 1167973: The results of a recent survey indicate that the average new car costs $23,000 with a standard deviation of $3,500. The price of cars is normally distributed.
1.If someone bought a car for $16,000, what percentage of cars cost an equal amount or more than this?
2.What percentage of cars were sold for an amount between $12,000 and $30,000?
Need help solving these questions
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! average car costs 23,000 with a standard deviation of 3500.
price of cars is normally distributed.
calculator used was omni calculator found at https://www.omnicalculator.com/statistics/normal-distribution
1. percentage of cars costing 16000 or more is 97.725%.
inputs to calculator were mean = 23000, standard deviation = 3500, X = 16000.
output from the calculator was p(x>X) = .97725
2. percentage of cars costing between 12000 and 30000 = 97.64%
inpus to the calculator were mean = 23000, standard deviation = 3500, X = 12000, X2 = 30000.
output from the calculator was p(X < x < X2) = .976413.
the calculator shows the rate or ratio or the proportion, however you want to call it.
the percentage is 100 times that.
the z-score of X and X2 are also shown.
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