Mathematics
Mathematics, 21.02.2020 21:55, ijohnh14

A recent study done by the National Retail Federation found that 2019 back-to-school spending for all US households who have school-aged children follows a Normal distribution with mean $697 and a standard deviation $120. Use this information to answer the following questions. (a) What is the probability that 2019 back-to-school spending for a US household with school- aged children is greater than $893? Answer this question by completing parts 2(a)i and 2(a)ii. i. Provide the z-score corresponding to the 2019 back-to-school spending of $893. ii. Based on your answer in 2(a)i, what is the probability of 2019 back-to-school spending for a US household with school-aged children is greater than $893? (b) Free response submission. Provide the 2-score corresponding to the 2019 back-to- school spending of $1,200, and the probability of 2019 back-to-school spending for a house- hold with school-aged children is less than $1,200. (c) Find Q3 (Third Quartile). Answer this question by completing parts 2(c)i. and 2(c)ii. i. Provide the z-score corresponding to Q3. ii. Based on your answer in 2(c)i, provide the value of Q3. (d) Find Q1 (First Quartile). Answer this question by completing parts 2(d)i and 2(d)ii. i. Provide the z-score corresponding to Q1. ii. Based on your answer in 2(d)i, provide the value of Qı. (e) What is the value of the IQR for the distribution of 2019 back-to-school spending for a US household with school-aged children? (f) Free response submission. Interpret the value of the IQR from question 2e within the context of the problem. (g) What is the proportion of 2019 back-to-school spending within 1.50 standard deviations of the mean? Answer this question by completing parts 2(g)i. through 2(g)iii. i. Provide the SMALLER 2-score corresponding to the above statement. ii. Provide the LARGER z-score corresponding to the above statement. iii. Based on your answers in 2(g)i and 2(g)ii, what proportion of 2019 back-to-school spending is within 1.50 standard deviations of the mean? (h) What is the 2019 back-to-school spending amount such that only 3% of households with school-age children spend more than this amount? i. Provide the z-score corresponding to the top 3%. ii. Based on your answer in 2(h)i, provide the spending amount such that only 3% of households with school-age children spend more than this amount? (i) Free response submission. Which US household is more unusual, a US household with back-to-school spending of $600 or a US household with back-to-school spending of $900? Explain your answer. (j) Free response submission. Let's say the Smith family spent $815 on buying school supplies this fall. Provide an interpretation of the Smith family's 2019 back-to-school spending, i. e. what can you say about the percentage of all other US households with school-age children that have a higher back-to-school spending than the Smith family?

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