Review the illustration below. To find the probability that the customer demand will be at most 900 units per month, what would be the appropriate Excel function?  General syntax: NORM.DIST(x, mean, standard_dev, cumulative)

What metric does total bill represent?  

During the first quarter of 2017, an investment group’s average purchase price of Bitcoin was $2,500.175 with a standard deviation of $600. The last purchase made was priced at $2,450.00. Assume that their purchase prices follow a normal distribution. To find the z-score for the last purchase, what value would be in place of x̄ when referring to the z-score formula below?

According to a customer’s crypto transaction records, 15% of their transactions are Bitcoin sells. If a random sample of 20 transactions was selected, what is the probability that 8 of these transactions are Bitcoin sells? Select the appropriate Excel function used to find the probability.  General syntax: BINOM.DIST(number_s, trials, probability_s, cumulative)

Match the symbol to its description.

Which of the following is a key difference in how probabilities are calculated for discrete vs. continuous random variables?

In a normal distribution, which of the following z-scores would correspond to a data point that is furthest from the mean?

Assume you create a histogram of the age of houses. Which of the following characteristics of the histogram would indicate that the age of houses is not normally distributed?

Fill in the blanks: The binomial probability distribution is used with data. The normal probability distribution is used with data.

During the first quarter of 2017, an investment group’s average purchase price of Bitcoin was $2,500.175 with a standard deviation of $600. Assume that the purchase prices follow a normal distribution. Approximately 75% of Bitcoin purchases were less than what price? Select the appriopriate Excel function for this problem.