Determine the probability of observing an income

Reference no: EM131400349

1. Assume that the income of pediatricians is normally distributed with mean μ =$100,000 and standard deviation σ = 10,000. Determine the probability of observing an income between $85,000 and $115,000.

2. Suppose the winnings of gamblers at Las Vegas are normally distributed with mean μ = -300 (the typical person loses $300), and standard deviation σ = 100. Determine the probability that a gambler does not lose any money.

Reference no: EM131400349

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