4). The prices of various cereal boxes is normally
distributed with a standard deviation of 0.5. If a
box of Lucky Charms sells for $4.29 and has a
Z-score of 1.6, what is the mean price of a box of
cereal?

Respuesta :

Answer:

difference in rise is $0.95 = $5.24

lucky charms = $4.29 = 22.03% 0.945

As deviation 0.5 of 4.29 = 97.855%

22.03% of 4.29 = 0.945 = + 4.29 = $5.24

Step-by-step explanation:

z score = 0

A z-score less than 0 represents an element less than the mean. A z-score greater than 0 represents an element greater than the mean. A z-score equal to 0 represents an element equal to the mean.

0.5 :  0.9452

This replaces the deviation

lucky charms = $4.29 = 22.03% more 0.945

As deviation 0.5 of 4.29 = inverse of 97.855%  = 0.02145

2.145% 22.03-2.145

22.03% of 4.29 = 0.945 = + 4.29 = 5.235 = $5.24

So this means the difference in rise is $0.95

The mean price of a box of cereal is $3.49.

What is a z-score?

A z-score measures exactly how many standard deviations a data point is  above or below the mean. It allows us to calculate the probability of a score occurring within our normal distribution and enables us to compare two scores that are from different normal distributions.

For the given situation,

The standard deviation, σ = 0.5

The data point, x = $4.29

z-score, z = 1.6

Let the mean price be μ.

The formula of z-score is z = (x- μ) / σ.

On substituting the above values,

⇒ [tex]1.6=\frac{4.29-mean}{0.5}[/tex]

⇒ [tex](1.6)(0.5)=4.29-mean[/tex]

⇒ [tex]0.8=4.29-mean[/tex]

⇒ [tex]mean=4.29-0.8[/tex]

⇒ [tex]mean=3.49[/tex]

Hence we can conclude that the mean price of a box of cereal is $3.49.

Learn more about z-score here

https://brainly.com/question/15501073

#SPJ2