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23 March, 18:41

The XO Group Inc. conducted a survey of brides and grooms married in the United States and found that the average cost of a wedding is (XO Group website, January,). Assume that the cost of a wedding is normally distributed with a mean of and a standard deviation of:

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  1. 23 March, 18:44
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    Average cost is calculated in the following way

    Explanation:

    Given that XO Group Inc. conducted a survey of 13,000 brides and grooms married in the United States and found that the average cost of a wedding is $29,858

    X is N (29,858, 5600)

    Or Z=x-29158/5600 is N * (0,1)

    We can use std normal distribution table to get the probabilities

    a) The probability that a wedding costs less than $20,000 (to 4 decimals)

    P (X<20000)

    =0.039174

    =0.0392

    b) the probability that a wedding costs between $20,000 and $30,000

    =0.5101-0.0392

    =0.4709

    c) For a wedding to be among the 5% most expensive, how much would it have to cost (to the nearest whole number)

    =29858+1.645*5600

    =38083
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