CA Foundation Exam > CA Foundation Questions > The average weekly food expenditure of a grou...
Start Learning for Free
The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?
Most Upvoted Answer
The average weekly food expenditure of a group of families has a norma...
Problem:
A group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300. What is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?
Solution:
Step 1: Find the probability of one family having weekly food expenditure in excess of 2100
We need to find the probability that a single family has a weekly food expenditure in excess of 2100. We can use the standard normal distribution to find this probability.
Z = (X - μ) / σ
Where,
- X = 2100 (weekly food expenditure)
- μ = 1800 (mean weekly food expenditure)
- σ = 300 (standard deviation of weekly food expenditure)
Substitute these values in the formula to get:
Z = (2100 - 1800) / 300 = 0.1
Using the standard normal distribution table, the probability of a family having weekly food expenditure in excess of 2100 is:
P(Z > 0.1) = 0.4602
Step 2: Find the probability of at least one family having weekly food expenditure in excess of 2100
We want to find the probability that out of five families belonging to this group, at least one family has weekly food expenditure in excess of 2100. We can use the binomial distribution to find this probability.
P(X ≥ 1) = 1 - P(X = 0)
Where,
- X = number of families with weekly food expenditure in excess of 2100
- n = 5 (total number of families)
- p = 0.4602 (probability of a family having weekly food expenditure in excess of 2100)
Substitute these values in the formula to get:
P(X ≥ 1) = 1 - P(X = 0) = 1 - C(5,0) * (0.4602)^0 * (1 - 0.4602)^(5-0) = 0.8095
Step 3: Interpretation
The probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100 is 0.8095. This means that there is an 80.95% chance that at least one family will have weekly food expenditure in excess of 2100.
Attention CA Foundation Students!
To make sure you are not studying endlessly, EduRev has designed CA Foundation study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in CA Foundation.
|
Explore Courses for CA Foundation exam
|
|
Similar CA Foundation Doubts
Top Courses for CA FoundationView all
The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?
Question Description
The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?.
The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?.
Solutions for The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? in English & in Hindi are available as part of our courses for CA Foundation.
Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? defined & explained in the simplest way possible. Besides giving the explanation of
The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100?, a detailed solution for The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? has been provided alongside types of The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? theory, EduRev gives you an
ample number of questions to practice The average weekly food expenditure of a group of families has a normal distribution with mean Rs.1800 and standard deviation Rs.300 what is the probability that out of five families belonging to this group at least one family has weekly food expenditure in excess of 2100? tests, examples and also practice CA Foundation tests.
|
|
Explore Courses for CA Foundation exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup