What is the probability that the cost will be less

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Assignment: Statistics Essentials for Business Analytics- Probability Distribution

Automobile repair costs continue to rise with the average cost now at $367 per repair (U.S. News & World Report website, January 5, 2015). Assume that the cost for an automobile repair is normally distributed with a standard deviation of $88. Write R code to achieve the following tasks. Post your R code and RStudio output (console output) below each task.

I. What is the probability that the cost will be more than $450?

II. What is the probability that the cost will be less than $250?

III. What is the probability that the cost will be between $250 and $450?

IV. If the cost of your car repair is in the lower 5% of automobile repair charges, what is your cost?

Reference no: EM133842649

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