Question

Forty families gathered for a fund-raising event. Suppose the individual contribution for each family is normally distributed with a mean and a standard deviation of $120 and $24, respectively. The organizers would call this event a success if the total contributions exceed $5,200. What is the probability that this fund-raising event is a success?

Answer 1

3.51% possibility (20 characters aaa)

Answer 2

3.51% probability that this fund-raising event is a success

Explanation:

In a set with mean and standard deviation , the zscore of a measure X is given by:

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.