Answered: According to a recent publication, 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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According to a recent publication, the mean price of new mobile homes is

$60,400. Assume a standard deviation of $7900. Let x denote the mean price of a sample of new mobile homes.

a. For samples of size 25, find the mean and standard deviation of

x. Interpret your results in words.

b. Repeat part (a) with n=50.

a. For ________________________ (Samples of 25 mobile homes, the 25 mobile homes sampled ) the mean and standard deviation of _____________ (all possible sample mean prices, the prices of the mobile homes) are $_______________ and $________________, respectively. (Round to the nearest cent as needed)

b. For ________________________ (Sample of 50 mobile homes, the 50 mobile homes sampled) the mean and standard deviation of _____________ (all possible sample mean prices, the prices of the mobile homes) are $_______________ and $________________, respectively. (Round to the nearest cent as needed)

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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