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Sedaia [141]
3 years ago
8

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?
Mathematics
1 answer:
Stella [2.4K]3 years ago
5 0

Answer:

Following are the solution to the given points:

Step-by-step explanation:

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

For point a:

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

For point b:

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

For point c:

Probability\ = 0.794614436 \\\\

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

For point d:

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)).

For point e:

IQR = Q_3 - Q_1 = 29743.73463 - 27720.26537 = 2023.469251.

For point f:

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

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stellarik [79]

Answer:

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Step-by-step explanation:

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Galina-37 [17]

Hey there :)

An exact answer cannot be given as it requires to reseach about banks and co-operatives in your locality. However, I can give you a hint.

Research banks or cooperatives in your location that has the greatest percentage in terms of investment or savings.

Let's say, for example, Bank ABC has 5% annual simple interest in their Savings Account.

If you invest your entire money 100,000 pesos at Bank ABC with 5% annual interest for 20 years, you will earn an interest of:

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=  > Interest =100000 \times 0.05 \times 20yrs

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Hence, after investing at Bank ABC for 20 years, you will earn 100,000 pesos on top of your principal/invested amount that is 100,000 pesos. Your money will become 200,000 pesos now.

So, with this, find a bank/cooperative that has the highest return rate in your location. Once you have decided bank/cooperative, research further with regards to the background of the company, other services offered, application requirements, etc.

~ Benjemin360

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