Data from the Bureau of Labor Statistics\' Consumer Expenditure Survey show that
ID: 400196 • Letter: D
Question
Data from the Bureau of Labor Statistics' Consumer Expenditure Survey show that annual expenditures for cellular phone services per consumer unit increased from $234 in 2001 to $618 in 2007. Let the standard deviation of annual cellular expenditure be $67 in 2001 and $167 in 2007. a. What is the probability that the average annual expenditure of 109 cellular customers in 2001 exceeded $217? (Round answer to 4 decimal places.) Probability This is a numeric cell, so please enter numbers only b. What is the probability that the average annual expenditure of 109 cellular customers in 2007 exceeded $585? Round answer to 4 decimal places.) ProbabilityExplanation / Answer
a.
z=(x-u)/std dev
-0.2537313
Probability=1-normsdist(z)
60.0148%
b.
z=(x-u)/std dev
-0.1976048
Probability=1-normsdist(z)
57.8323%
a.
z=(x-u)/std dev
-0.2537313
Probability=1-normsdist(z)
60.0148%
b.
z=(x-u)/std dev
-0.1976048
Probability=1-normsdist(z)
57.8323%
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.