MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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The average production cost for major movies is 65 million dollars and the standard deviation is 20 million
dollars. Assume the production cost distribution is normal. Suppose that 14 randomly selected major movies
are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round
all answers to 4 decimal places where possible.
a. What is the distribution of X? X N(
b. What is the distribution of z? 7 - N(
c. For a single randomly selected movie, find the probability that this movie's production cost is between
63 and 66 million dollars.
d. For the group of 14 movies, find the probability that the average production cost is between 63 and 66
million dollars.
e. For part d), is the assumption of normal necessary? No Yes
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Transcribed Image Text:The average production cost for major movies is 65 million dollars and the standard deviation is 20 million dollars. Assume the production cost distribution is normal. Suppose that 14 randomly selected major movies are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round all answers to 4 decimal places where possible. a. What is the distribution of X? X N( b. What is the distribution of z? 7 - N( c. For a single randomly selected movie, find the probability that this movie's production cost is between 63 and 66 million dollars. d. For the group of 14 movies, find the probability that the average production cost is between 63 and 66 million dollars. e. For part d), is the assumption of normal necessary? No Yes
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