QUESTION 7 1 points Save Answer A model train collector wishes to buy a new mode

Question

QUESTION 7 1 points Save Answer A model train collector wishes to buy a new model engine for his collection. The price of this model engine is $135. He and the owner of the model train store are good friends, and he asks the owner what the average price is for the model engines he tends to sell, out of curiosity. The owner responds that he sold 100 engines over the last week, and the mean and standard deviation of those engines' prices were $150 and $10, respectively. Given this information, what is the probability that an engine is more expensive than the model engine the train collector just bought? Please express your answer as å decimal and round your answer to 2 decimal places. QUESTION 8 1 pointsSave Answer A neighborhood has a mean household income $50K per year and a standard deviation of $10K per year. What is the probability that a household in that neighborhood has an income less than $43K per year? Please express your answer as a decimal and round your answer to 3 decimal places

Explanation / Answer

7)

=150

=10

x=135

z=(x-)/

=(135-150)/10

=-1.5

P(x>135) =P(z>-1.5)

              =1-P(z<-1.5)

              =1-0.0668

              =0.93

8)

=50

=10

x=43

z=(x-)/

=(43-50)/10

=-7/10

=-0.7

P(x<43) =P(z<-0.7) =0.242

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