question archive A homeowner stays in a single location for an average of 20 years with a standard deviation of 5
A homeowner stays in a single location for an average of 20 years with a standard deviation of 5
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A homeowner stays in a single location for an average of 20 years with a standard deviation of 5.7 years. What are the chances (percentage) that someone lives in their home for 40 years or more?
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ANSWER:
Let, X= number of years that homeowner stays in a single location
Given:
X follows a normal distribution with
mean= 20
standard deviation = 5.7
So the probability of 40 years or more is:
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