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paramesh vijayalakshmi
on Dec 06, 2024

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Peak Previously Played Picks buys and sells used sports equipment.For the past year,the mean purchase of used sports equipment was $36 with a standard deviation of $8.Using the Microsoft Excel function NORM.DIST,find the probability that the next person who comes in to buy used equipment will pay more than $40.

A) 30.85%
B) 69.15%
C) 24.20%
D) 95.60%

Standard Deviation

An indicator of the degree to which a dataset's values vary or are spread, showing the distance of the values from the average.

Probability

The measure or quantification of how likely an event is to occur, expressed as a number between 0 (impossible) and 1 (certain).

NORM.DIST

A function in statistics that returns the normal distribution for a specified mean and standard deviation.

  • Determine the standard error of the mean and recognize its relevance in sample analysis.
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Brian BautistaDec 06, 2024
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