Mean amount spent by a family
The mean amount spent by a family of four on food per month is $700 with a standard deviation of $85. Assuming that the food expenditures are normally distributed, what is the proportion of families of four that spend more than $900 per month?
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Absolute Leasing, Inc. incurred costs of $9,000 in negotiating and closing the lease. There are no uncertainties regarding additionalcosts yet to be incurred and the collectability of the lease payments is reasonably predictable.
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A researcher is interested in studying people's mean age in a certain region. If the population standard deviation is known to be 8 years and 1.5 year of error margin is allowed, find the minimum simple size the researcher needs to use, knowing th
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