Question

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 that someone lives in their home for 40 years or more?

Answer 1

The Probability that someone lives in their home for 40 years or more

`P(X\geq 40 ) = P( Z\geq3.50 )` = 0.0002

Explanation:

Explanation:-

Given mean of the Population = 20 years

The standard deviation of the Population = 5.7 years

Let 'X' be the random variable in normal distribution

`Z = (x-mean )/(S.D) = (40-20)/(5.7) = 3.508`

The Probability that someone lives in their home for 40 years or more

`P(X\geq 40 ) = P( Z\geq3.50 )`

= 1 - P( Z< 3.50)

= 1 - ( 0.5 + A(3.50)

= 0.5 - 0.4998 ( from normal table )

= 0.0002