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please help me in solving this question as soon as possible thanks You are the marketing manager of a company. You want to study the compatibility of...
please help me in solving this question as soon as possible thanks
You are the marketing manager of a company. You want to study the compatibility of a target market for a new product that your company is developing. You know that the age of the population in the area considered is normally distributed with a mean of 30 years and standard deviation of 10 years.
a. What is the proportion of people between the ages of 25 and 35 years?
b. Determine the first and third quartiles of this population (Q1 and Q3)? What is the probability that the age of a randomly selected customer from this population is between Q1 and Q3?
c. If the target market for your product is people who are over 45 years of age, is the population in this area a good target market for your product? Explain.
d. You took a random sample of 16 customers. What is the probability that sample average age will be between 25 and 35 years? Is your answer different from the answer in (a)?