## Question

###### A specialty foods company mails out gourmet steaks to customerswilling to pay a gourmet price. The steaks vary in size, with amean uncooked weight of 2 pounds with a standard deviation of 0.10pounds. Use a normal model for the weight of a steak.Estimate the probability that a steak will weigh less than 1pound. Estimate the probability that a steak will weight between 1.5and 2 pounds. a.What is the expected rate of return?b.What is the standard deviation of the rate of return?

A specialty foods company mails out gourmet steaks to customers willing to pay a gourmet price. The steaks vary in size, with a mean uncooked weight of 2 pounds with a standard deviation of 0.10 pounds. Use a normal model for the weight of a steak. Estimate the probability that a steak will weigh less than 1 pound. Estimate the probability that a steak will weight between 1.5 and 2 pounds. a. What is the expected rate of return? b. What is the standard deviation of the rate of return?

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