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According to The Wedding Report, Inc., the mean cost for a wedding in the United States is $28732 (as of November 2008). Suppose the cost for a wedding is normally distributed with a standard deviation of $1500, and that a wedding is selected at random. Use the appropriate Excel function to calculate each of the following. (Note - Part (e) can be done by hand.)
(a) Find the probability that the wedding costs less than $22000.
(b) Find the probability that the wedding costs more than $32000.
(c) Find the probability that the wedding costs between $25000 and $30000.
(d) Find Q1 (the 25th percentile) and Q3 (the 75th percentile).
(e) Find the IQR for the wedding costs.
(f) The top 10% of weddings cost more than how much?

Respuesta :

Answer:

Following are the solution to the given points:

Step-by-step explanation:

[tex]X = \text{cost of wedding}\sim \text{Normal}\ (\mu = 28732, \sigma= 1500)\\\\[/tex]

For point a:

[tex]Probability\ = 0.00000359\\\\ \text{(Using Excel function:} =NORMDIST(22000,28732,1500,1)).[/tex]

For point b:

[tex]Probability \ = 0.014678\\\\\text{(Using Excel function:} =1-NORMDIST(32000,28732,1500,1))\\\\[/tex]

For point c:

[tex]Probability\ = 0.794614436 \\\\[/tex]

[tex]\text{(Using Excel function:} \\=NORMDIST (30000,28732,1500,1)-NORMDIST(25000,28732,1500,1))\\\\[/tex]

For point d:

[tex]Q_1 = 27720.26537 \\\\\text{(Using Excel function:} =NORMINV(0.25,28732,1500)) \\\\Q_3 = 29743.73463 \\\\\text{(Using Excel function:} =NORMINV(0.75,28732,1500)).[/tex]

For point e:

[tex]IQR = Q_3 - Q_1 = 29743.73463 - 27720.26537 = 2023.469251.[/tex]

For point f:

[tex]Top\ 10\% = 30654.32735 \\\\\text{(Using Excel function:} =NORMINV(0.9,28732,1500)).[/tex]

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