Answered

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The amount of time spent by a statistical consultant with a client at their first meeting is a random variable having a normal distribution with a mean value of 90 min and a standard deviation of 10 min.
(a) What is the probability that more than 65 min is spent at the first meeting? (Round the answer to three decimal places.)
P ( y > 65) =
(b) What amount of time is exceeded by only 10% of all clients at a first meeting? (Round the answer to one decimal place.)
(c) If the consultant assesses a fixed charge of $10 (for overhead) and then charges $50 per hour, what is the mean revenue from a client's first meeting? (Round the answer to the nearest cent.)

Sagot :

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