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QUESTION 2   According to Michael Theatre Ltd., the mean cost to run a nightly theatre performance...

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Statistics

QUESTION 2  

According to Michael Theatre Ltd., the mean cost to run anightly theatre performance is $3,200 with a standard deviation of$460. Performance costs are known to follow a normalprobability distribution.

Required:

  1. What percentage of the performances will cost less than $2,850to run? Sketch a normal curve and shade the desired area on yourdiagram. ( 4 marks)
  2. What percentage of the performances will cost between $3,250and $3,520 to run? Sketch a normal curve and shade the desired areaof your diagram. ( 4 marks)
  3. What percentage of the performances will cost between $2,300and $3,520 to run? Sketch a normal curve and shade the desired areaon your diagram. ( 4 marks)
  4. What percentage of the performances will cost less than $3,750to run? Sketch a normal curve and shade the desired area of yourdiagram. Also, Six percent (6 %) of all shows will cost less thanwhat dollar amount? Sketch a normal curve and shade the desiredarea of your diagram. ( 8 marks)

I Need the full calculation and explanation of theanswers.

Answer & Explanation Solved by verified expert
4.0 Ratings (811 Votes)
We are given that the mean performance cost 3200 and 460 We know that any Normal distribution can be transformed to astandard normal variate by the transformationa Percentage of the performances will cost less than 2850 torun Percentage of the performances will cost less than2850 to    See Answer
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