Answered: 19 not everyone pays the same price for…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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19 not everyone pays the same price for the same model of the car. They figured illustrates a normal distribution for the price is paid for a particular model of the new car. The meeting is $21,000 and the standard deviation is $2000. Use the 68-98-99.7 Rule to find a percentage of buyers who paid more than $27,000. The percentage of buyers who paid more than $27,000 is ___%.

99.7%
-95%-
+68%→
15
17
19
21
23
25
27
Price of a Model of a New Car (Thousands)
Number of Car Buyers

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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