6. Monthly Mortgage Payments The average monthlymortgage payment including principal and interest is$982 in the United States. If the standard deviation isapproximately $180 and the mortgage payments areapproximately normally distributed, find the probabilitythat a randomly selected monthly payment isа.More than $1000b. More than $1475с.Between $800 and $1150

Given that The monthly mortgage payment including principal and interest is $982 ; (μ=$982)…

Answered: 6. Monthly Mortgage Payments The…

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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Month Madison Cookies Sophie Electric 1 -0.04 0.07 2 0.06 -0.02 3 -0.07 -0.10 4 0.12 0.15 5 -0.02 -0.06 6 0.05 0.02 Standard deviation of returns for each stock
Trucks in a delivery fleet travel a mean of 100 miles per day with a standard deviation of 38 miles per day. The mileage per day is distributed normally. Find the probability that a truck drives at least 141 miles in a day. Round your answer to four decimal places.
Asset A will generate a 20% return with probability 0.25; a 15% return with probability 0.50; and a -15% return with probability 0.25. The standard deviation of the return on Asset A is %. Write your answer as a percentage, rounded to 2 decimal places. Example: if the answer is 10.3478%, then write "10.35". Do not type the % sign in your answer.
Assume monthly returns of 1%, -2%, 3% and 1%. What is periodic arithmetic mean, geometric mean, standard deviation, skew and kurtosis? What are the annualized values of each statistic?
The average student loan debt for college graduates is $25,600. Suppose that that distribution is normal and that the standard deviation is $11,400. Let X = the student loan debt of a randomly selected college graduate. Round all probabilities to 4 decimal places and all dollar answers to the nearest dollar.b Find the probability that the college graduate has between $13,550 and $33,450 in student loan debt. c. The middle 10% of college graduates' loan debt lies between what two numbers? Low: $ High: $
Consider an investment whose return is normally distributed with mean of 8% and a standard deviation of 5%. A. Determine the probability of losing money. B.Find the probability of losing money when the standard deviation is equal to 10%.
One year consumers spent an average of $22 on a meal at a resturant. Assume that the amount spent on a resturant meal is normally distributed and that the standard deviation is $3. Complete parts (a) through (c) below. Between what two values will the middle 95% of the amounts of cash spent fall?
Insurance companies make bets. They bet that you’re going to live a long life. An insurance company offers a “death and disability” policy that pays average of $10,000 when you die with a standard deviation of $1,000 or pays average $5000 if you are permanently disabled with standard deviation of $1,000. Assuming the distribution of the policy payout is normal. What percentage of pay will lie between payout of $7,000 and $9,000 when you die? What percentage of the payout will lie below $7,500 if you are permanently disabled? What percentage of the policy will lie above $8,100 when you die?
On average, Upstate Chevrolet sells 20 cars each week, with a standard deviation of 2. How many cars sold represents 2 standard deviations above the mean? Answer How many cars sold represent 1 standard deviation below the mean? Answer Approximately 68% will fall between Answer and Answer . Approximately 99.7% will fall between Answer and Answer . What is the probability that the car lot will sell at least 18 cars? Answer % What is the probability that a car lot will sell at most 26 cars? Answer %
Cody took his first physics exam and scored an 80. The population mean for this exam is 70, and the standard deviation is 5. What is the probability of selecting a person with a score greater than Cody’s?
The NJ Department of Health has reported the average life span of NJ residents is 81 years. If the standard deviation is σ = 4 years, what is the probability of a person living to at least 92 years of age?
Repair Cost for Microwave Ovens The average repair cost of a microwave oven is $55, with a standard deviation of $8. The costs are normally distributed. Find the probability that the mean of the repair bills will be greater than $70.

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