According to a retail electronics chain, adults in the 40 to 50 year old age group, the meanamount spent per year on electronics is $1998. Assume that the amount spent follows a normal distributionwith a standard deviationof $550.
a. What percent of adults in this age group spend more than $2500 per year on electronics?
b. What percent spend between $2500 and $3000?
c. What percent spend less than $2000?
The solution provides a detailed explanation how to calculate the probability percentages for different amounts of money spent per year on electronics.