A randomly selected realtor's monthly commission (in thousands) can be estimated by a random variable that follows F-distribution with parameters (14,4). Let X be the monthly commission of a randomly selected realtor. 1. Describe the distribution of X: X-F ✓✓(dfn=14dfd-4 2. Use the random variable notation to express symbolically each of the following: P(X<7.9) The probability of an event in which the monthly commission (in thousands) of a randomly selected realtor is less than 7.9. X<7.1 An event in which the monthly commission (in thousands) of a randomly selected realtor is less than 7.1. P(X<13.1)=0.99 The probability of an event in which the monthly commission (in thousands) of a randomly selected realtor is less than 13.1 is equal to 0.99. 3. Use technology to find the probability that the monthly commission (in thousands) of a randomly selected realtor is:

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
icon
Related questions
Question
Question 30
A randomly selected realtor's monthly commission (in thousands) can be estimated by a random variable
that follows F-distribution with parameters (14,4). Let X be the monthly commission of a randomly
selected realtor.
1. Describe the distribution of X:
(dfn= 14
2. Use the random variable notation to express symbolically each of the following:
The probability of an event in which the monthly commission (in thousands)
of a randomly selected realtor is less than 7.9.
P(X<7.9)
X-F
X<7.1
✓An event in which the monthly commission (in thousands) of a randomly
selected realtor is less than 7.1.
P(X<13.1)=0.99 The probability of an event in which the monthly commission (in thousands)
of a randomly selected realtor is less than 13.1 is equal to 0.99.
ii. more than 7.9:
3. Use technology to find the probability that the monthly commission (in thousands) of a randomly
selected realtor is:
i. less than 7.1:
iii. between 0.4 and 8:
,dfd-4
iv. more than 72.4:
v. less than 98.3:
4. Find the 11-th percentile:
0.04 x (round the answer to 2 decimal places)
0.97 x (round the answer to 2 decimal places)
0.88 ✓(round the answer to 2 decimal places)
0.00 ✓(round the answer to 2 decimal places)
1.00 ✓(round the answer to 2 decimal places)
11% 3.65
x (round the answer to 2 decimal places)
Transcribed Image Text:Question 30 A randomly selected realtor's monthly commission (in thousands) can be estimated by a random variable that follows F-distribution with parameters (14,4). Let X be the monthly commission of a randomly selected realtor. 1. Describe the distribution of X: (dfn= 14 2. Use the random variable notation to express symbolically each of the following: The probability of an event in which the monthly commission (in thousands) of a randomly selected realtor is less than 7.9. P(X<7.9) X-F X<7.1 ✓An event in which the monthly commission (in thousands) of a randomly selected realtor is less than 7.1. P(X<13.1)=0.99 The probability of an event in which the monthly commission (in thousands) of a randomly selected realtor is less than 13.1 is equal to 0.99. ii. more than 7.9: 3. Use technology to find the probability that the monthly commission (in thousands) of a randomly selected realtor is: i. less than 7.1: iii. between 0.4 and 8: ,dfd-4 iv. more than 72.4: v. less than 98.3: 4. Find the 11-th percentile: 0.04 x (round the answer to 2 decimal places) 0.97 x (round the answer to 2 decimal places) 0.88 ✓(round the answer to 2 decimal places) 0.00 ✓(round the answer to 2 decimal places) 1.00 ✓(round the answer to 2 decimal places) 11% 3.65 x (round the answer to 2 decimal places)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps with 6 images

Blurred answer
Similar questions
Recommended textbooks for you
MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
Statistics
ISBN:
9781119256830
Author:
Amos Gilat
Publisher:
John Wiley & Sons Inc
Probability and Statistics for Engineering and th…
Probability and Statistics for Engineering and th…
Statistics
ISBN:
9781305251809
Author:
Jay L. Devore
Publisher:
Cengage Learning
Statistics for The Behavioral Sciences (MindTap C…
Statistics for The Behavioral Sciences (MindTap C…
Statistics
ISBN:
9781305504912
Author:
Frederick J Gravetter, Larry B. Wallnau
Publisher:
Cengage Learning
Elementary Statistics: Picturing the World (7th E…
Elementary Statistics: Picturing the World (7th E…
Statistics
ISBN:
9780134683416
Author:
Ron Larson, Betsy Farber
Publisher:
PEARSON
The Basic Practice of Statistics
The Basic Practice of Statistics
Statistics
ISBN:
9781319042578
Author:
David S. Moore, William I. Notz, Michael A. Fligner
Publisher:
W. H. Freeman
Introduction to the Practice of Statistics
Introduction to the Practice of Statistics
Statistics
ISBN:
9781319013387
Author:
David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:
W. H. Freeman