Answered: A district councilor informs the…

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A district councilor informs the prospective developer of a shopping centre that the average monthly income per household in his district is 2500 Great Britain Pound. Suppose that the household income in the district is approximately normally distributed and that the standard deviation is about 200 Great Britain Pound, based on an earlier study. For a random sample of 25 households, the mean household income is found to be 2400 Great Britain Pound. At a 5% level of significance, can we justify the district councilor’s claim? If not, at what significance level we can justify?

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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