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Today we are going to come up with new task, that is about ”Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S….“. We have found the solution to this question, along with interesting information related to it, thanks to its novelty and interest. This is where we will focus to gain this useful and new knowledge!
Question: “Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S….”
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Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. News & World Report website, January 5, 2015). Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Answer the following questions about the cost of automobile repairs.
a) What is the probability that the cost will be more than $450?
b) What is the probability that the cost will be less than $250?
c) What is the probability that the cost will be between $250 and $450?
d) If the cost for your car repair is in the lower 5% of automobile repair charges. what is your cost?
Answer: ” Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S….”
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![Mean (H)-367 and Standarddeviation (o)-88 a) The probability thatthe cost will be more than S450 We have to find P (X> 450) When x= 450, Z (x-H)_(450-367 83_ 0.9432 Therefore, P(X> 450)-P (Z> 0.9432) = P (05 Z < o)-P (0 = 0.5-0.3264 Z 0.9432) [From Normal table] P(X> 450) 0.1736 b) The probability thatthe cost will be less than S250 We have to find P(X< 250) When x- 250, 250-367 117--1.3295 Z-- Therefore, P(X<250)-P (Z<1.3295) 0.5-0.4082 [From Normal table] P(X< 250) 0.0918](https://img.homeworklib.com/questions/a49eee40-71b1-11ea-9c34-b5b08def4144.png?x-oss-process=image/resize,w_560)
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Relevant knowledge
The normal distribution of any given mean and standard deviation is converted into Z scale values, with 0 at the center and standard deviations measured along both sides of that center as +1, +2, +3 towards the right-hand side and -1 to -2 to -3 towards the left.
Conclusion
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