The price of a particular brand of jeans has a mean of $37.99 and a standard deviation of $7 . A sample of 49 pairs of jeans is selected. Use Excel to answer the following questions:
a. What is the probability that the sample of jeans will have a mean price less than $40?
b. What is the probability that the sample of jeans will have a mean price between $38 and $39?
c. What is the probability that the sample of jeans will have a mean price within $3 of the population mean?
a. .97778
=NORM.DIST(40,37.99,1,TRUE)
b. .339763
=NORM.DIST(39,37.99,1,TRUE) – NORM.DIST(38,37,99,1,TRUE)
c. .9973
=NORM.DIST(40.99,37.99,1,TRUE) – NORM.DIST(34.99,37.99,1,TRUE)
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