What is the probability that a randomly selected family of


According to a research firm, in U.S., the mean amount spent by a family of four on food per month is $500 with a standard deviation of $75. Assuming that the food costs are normally distributed, what is the probability that a randomly selected family of four spends less than $480 per month? (Round your answer to 4 decimal places.)

Solution Preview :

Prepared by a verified Expert
Finance Basics: What is the probability that a randomly selected family of
Reference No:- TGS01527410

Now Priced at $10 (50% Discount)

Recommended (98%)

Rated (4.3/5)