Ralph is leasing a $32,000 car for 36 months. The terms of his lease include an 8.5% interest rate (money factor of 0.00354) and
1 answer:
You might be interested in
Answer:
a) 40.13% probability that a laptop computer can be assembled at this plant in a period of time of less than 19.5 hours.
b) 34.13% probability that a laptop computer can be assembled at this plant in a period of time between 20 hours and 22 hours.
Step-by-step explanation:
When the distribution is normal, we use the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this question:
a)Less than 19.5 hours?
This is the pvalue of Z when X = 19.5. So
has a pvalue of 0.4013.
40.13% probability that a laptop computer can be assembled at this plant in a period of time of less than 19.5 hours.
b)Between 20 hours and 22 hours?
This is the pvalue of Z when X = 22 subtracted by the pvalue of Z when X = 20. So
X = 22
has a pvalue of 0.8413
X = 20
has a pvalue of 0.5
0.8413 - 0.5 = 0.3413
34.13% probability that a laptop computer can be assembled at this plant in a period of time between 20 hours and 22 hours.