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21 September, 20:42

The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $220. Furthermore, it is known that the computer prices manufactured by MNM are normally distributed. a. What is the probability that a randomly selected computer will have a price of at least $1,530?

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  1. 21 September, 20:50
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    The required probability is 0.066807

    Explanation:

    Given,

    σ = 220

    μ = 1200

    The probability that a random selection of computer which will have the price of at least $1,530 is computed as:

    P (X ≥ 1530) = 1 - P (X ≤ 1530)

    = 1 - P (X - μ / σ)

    = 1 - P (1530 - 1200 / 220)

    = 1 - P (z ≤ 1.5)

    = 1 - 0.933193

    = 0.066807

    Note: This 0.933193 value is taken from the z table.
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Home » Business » The average price of personal computers manufactured by MNM Company is $1,200 with a standard deviation of $220. Furthermore, it is known that the computer prices manufactured by MNM are normally distributed. a.
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