Question

Tim Worker is doing his budget. He discovers that the average electric bill for the year was $206.00 with a standard deviation of $10.00. What percent of his expenses in this category would he expect to fall between $184.00 and $200.00?

a) Statistical Analysis of Electric Bills
b) Budgeting for Utility Expenses
c) Understanding Expense Distribution
d) Analyzing Standard Deviation in Budgets

Answer 1

To find the percent of expenses that Tim Worker would expect to fall between $184.00 and $200.00 in the electric bill category, calculate the z-scores for these values and then use the standard normal distribution table.

Step-by-step explanation:

To find the percent of expenses that Tim Worker would expect to fall between $184.00 and $200.00 in the electric bill category, we need to calculate the z-scores for these values and then use the standard normal distribution table.

First, we calculate the z-score for $184.00: z = (184.00 - 206.00) / 10.00 = -2.20

Next, we calculate the z-score for $200.00: z = (200.00 - 206.00) / 10.00 = -0.60

Using the standard normal distribution table, we can find the area under the curve corresponding to these z-scores. The difference between the two areas gives us the percentage of expenses expected to fall between $184.00 and $200.00.