Final answer:
To solve this problem, we use the standard normal distribution to find the probability of a car's selling price.
Step-by-step explanation:
To solve this problem, we can use the standard normal distribution. Since the selling price of the car is normally distributed with a mean of $6400 and a standard deviation of $300, we can standardize the selling price using the formula: z = (x - mean) / standard deviation. Once we have the standardized value, we can use a z-table or a calculator to find the probability.
For example, to find the probability that the selling price is less than $6200, we substitute the values into the formula: z = (6200 - 6400) / 300 = -0.0667. Looking up this value in the z-table, we find the probability to be approximately 0.4721, which means there is a 47.21% chance that the selling price is less than $6200.