Question Tag: Continuous Variables

In a study commissioned by Ofo Stores, the researcher examined the spending habits of the residents of Kojokrom. He found the spending habits to be normally distributed with a mean of GH¢700 and a standard deviation of GH¢70.

Required:
i) Determine the probability that a resident selected at random spends:

• Less than GH¢620 (3 marks)
• More than GH¢1,000 (3 marks)
• Between GH¢800 and GH¢900 (4 marks)

ii) Calculate the amount:

• Above which 80% of the residents will spend in a week (2 marks)
• Below which 30% of the residents will spend in a week (2 marks)