Mathematics, 25.07.2020 20:01 biju10775

The price of a particular make of a 64GB iPad Mini among dealers nationwide is assumed to have a Normal distribution with mean µ = $500 and variance σ 2 = 225. (a) What is the probability that an iPad Mini of the same specs, chosen randomly from a dealer, will cost less than $490? (b) What is the probability that an iPad Mini of the same specs, chosen randomly from a dealer, will cost more than $530? (c) What is the probability that an iPad Mini of the same specs, chosen randomly from a dealer, will cost between $490 and $530? (d) The manufacturer doesn’t want dealers to markup these iPad Minis above the 90th percentile of the price distribution. Approximately, what is the 90th percentile of the distribution of the price of this iPad Mini? (e) What is the probability that the average price of 2

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The price of a particular make of a 64GB iPad Mini among dealers nationwide is assumed to have a Nor...