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The Federal Reserve reports that the mean lifespan of a five dollar bill is 4.9 years....

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Statistics

The Federal Reserve reports that the mean lifespan of a fivedollar bill is 4.9 years. Let's suppose that the standard deviationis 2.1 years and that the distribution of lifespans is normal (notunreasonable!)

Find:

(a) the probability that a $5 bill will last more than 4years.

(b) the probability that a $5 bill will last between 5 and 7years.

(c) the 94th percentile for the lifespan of these bills (a timesuch that 94% of bills last less than that time).

(d ) the probability that a random sample of 37 bills has a meanlifespan of more than 5.1 years.

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