Math Problem Statement

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 $460? (Round your answer to four decimal places.) 0.15876

Incorrect: Your answer is incorrect. (b) What is the probability that the cost will be less than $250? (Round your answer to four decimal places.) 0.1587

Incorrect: Your answer is incorrect. (c) What is the probability that the cost will be between $250 and $460? (Round your answer to four decimal places.) 0.6826

Incorrect: Your answer is incorrect. (d) If the cost for your car repair is in the lower 5% of automobile repair charges, what is your maximum possible cost in dollars? (Round your answer to the nearest cent.) $ 224.54

Incorrect: Your answer is incorrect.

Solution

Ask a new question for Free

By Image

Drop file here or Click Here to upload

Math Problem Analysis

Mathematical Concepts

Probability
Normal Distribution
Z-scores

Formulas

Z = (X - μ) / σ
P(X > a) = 1 - P(Z < z)
P(a < X < b) = P(X < b) - P(X < a)

Theorems

Properties of the normal distribution
Central Limit Theorem

Suitable Grade Level

Grades 11-12