Answer:
a) 0.9964
b) 0.3040
Step-by-step explanation:
Given data:
standard deviation = $90,000
Mean sales price =$345,800
sample mean = $370,000
Total number of sample = 100
calculate z score for [/tex](\bar x = 370000)[/tex]
z = 2.689
P(x<370000) = P(Z<2.689)
FROM STANDARD NORMAL DISTRIBUTION TABLE FOR Z P(Z<2.689) = 0.9964
B)
calculate z score for (\bar x = 350000)
z = 2.133
FROM NORMAL DISTRIBUTION TABLE Z VALUE FOR
SO, = 0.9836 - 0.6796 = 0.3040
6X + 10 Y = 240
Rewriting this in slope intercept form
10y = -6x+240
y = -6/10x + 240/10
y = -.6x + 24
We know that x and y cannot be less than 0
The y intercept is 24 and the x intercept ( where y=0) is 40
To find the x intercept let y = 0
0 = -.6x + 24
-24 = -.6x
-24/.6 = -.6x/-/6
40 =x
If the budget is reduced by 25%, that means 240 is 25% less or 75% of the original value
75% of 240 = .75*240 or 180
6x+10y = 180
10y = -6x+180
y = -.6x+18
The y intercept is 18 and the x intercept is 30
If the price of x doubles
6 will become 12
12x+10y = 240
10y = -12x + 240
y = -1.2x +24
The y intercept is 24 and the x intercept is 20
If the price of y falls to 8
6x+8y = 240
8y = -6x+240
y = -6/8x + 240/8
y = -.75x + 30
The y intercept is 30 and the x intercept is 40
