Answered: A study investigating the relationship…

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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Question

A study investigating the relationship between age and annual medical expenses randomly samples

400400

individuals in a city. It is hoped that the sample will have a similar mean age as the entire population. Complete parts a and b below.

a. If the standard deviation of the ages of all individuals in the city is

sigmaσequals=1111,

find the probability that the mean age of the individuals sampled is within

oneone

yearyear

of the mean age for all individuals in the city. (Hint: Find the sampling distribution of the sample mean age and use the central limit theorem. You don't have to know the population mean to answer this, but if it makes it easier, use a value such as

muμequals=3535.)

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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