Anticipated consumer demand for a product next month can be represented by a normal random variable


Question: It is known that the amounts of money spent on textbooks in a year by students on a particular campus follow a normal distribution with mean $380 and standard deviation $50.

(a) According to the rule of thumb, what is the range of dollar spending that contains 95% of the students?

(b) What is the probability that a randomly chosen student will spend less than $400 on textbooks in a year?

(c) What is the probability that a randomly chosen student will spend more than $360 on textbooks in a year?

(d) What is the probability that a randomly chosen student will spend between $300 and $400 on textbooks in a year?

(e) Graph all the probabilities you found in the previous questions.

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