A survey found that people keep their TVs an average of 44 y

A survey found that people keep their TV\'s an average of 4.4 years. The standard deviation is 0.7. If a person decides to buy a new TV, find the probability that they woned the old one for the given amount of time. Assume the random variable is normally distributed.

Refer to the table of values (area under the standard normal distribution) as needed. If necesssary round intermediate calculations to the nearest hundredth.

More than 2.5 years

The probability that a randomly selected person has owned their TV for more than 2.5 years is _____%

Can you show me how you got your answer?

Solution

We need to find P(X>2.5)

Use NORM.DIST function in excel we get 0.003321

Since we need to find P(X>2.5), we do 1-0.003321=0.9966