Question

Espe A ride-sharing company has computed its mean fare to be $33.00, with a standard deviation of $4.10. Suppose that the fares are normally distributed. Complete the following statements. (a) Approximately 68% of the company's rides have fares between $__ and $__ . (b) Approximately ____ of the company's rides have fares between $24.80 and$41.20

Answer 1

Given that the ride-sharing company has computed its mean fare to be $33.00, with a standard deviation of $4.10, this implies that

`\begin{gathered} \mu=33.00 \\ \sigma=4.10 \end{gathered}`

The z score value is expressed as

`\begin{gathered} z=(x-\mu)/(\sigma) \\ where \\ x\Rightarrow observed\text{ value} \\ \mu\Rightarrow mean\text{ of the sample} \\ \sigma\Rightarrow standard\text{ deviation of the sample} \end{gathered}`

A) Approximately 68% of the company's rides have fares between . . .

From the normal distribution table,

this implies that the z score value is