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AU.S. consumer research company commissioned by a large music streaming service estimated that U.S. consumers spend on average $23 per month on streaming or buying music, with variance of the spending equal to 16. Assume that monthly music-related spending has a normal distribution D a. Compute the probability that a U.S. consumer has monthly spending to the amount of at least 19. (Round to four decimal places as needed.) b. Consider the top 4% of U.S. consumers, in terms of monthly music spending. What is the amount of monthly spending beyond which a consumer would be in the top 4%? (Round to the nearest cent as needed.)
Suppose that the earnings growth of small and medium-sized enterprises (SMEs) in Turkey has a normal distribution with an average of 2.7% and a standard deviation of 1.5% a. For a given SME, what is the chance that its earnings growth is between 1% and 3%? The chance that the earnings growth of an SME is between 1% and 3% is (Round to two decimal places.) b. Your objective is to identify the top SME performers in terms of earnings growth. A company is a top performer if its earnings growth is above the 90th percentile of the SME earnings growth distribution. Compute the earnings growth value, above which an SME would be considered a top performer. The earnings growth value, above which an SME would be considered a top performer, is%. (Round to two decimal places.)