Suppose you have $245. If you decide to spend it all on ice cream, you can buy 70 pints. If the price of a glass of lemonade is
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Given:
mean, u = 0
standard deviation σ = 1
Let's determine the following:
(a) Probability of an outcome that is more than -1.26.
Here, we are to find: P(x > -1.26).
Apply the formula:
Thus, we have:
Using the standard normal table, we have:
NORMSDIST(-1.26) = 0.1038
Therefore, the probability of an outcome that is more than -1.26 is 0.1038
(b) Probability of an outcome that