According to Sallie Mae surveys and Credit Bureau data, college students carried an averageof $3173 credit card debt in 2008. Suppose the probability distribution of the current creditcard debts of all college students in the United States is unknown but its mean is $3173 andthe standard deviation is $750. Let x be the mean credit card debt of a random sample of 400U.S. college students.(a) What is the probability that the mean of the current credit card debts for this sampleis within $70 of the population mean?

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Answered: According to Sallie Mae surveys and…

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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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: $
The patient recovery time from a particular surgical procedure is normally distributed with a mean of 5.3 days and standard deviation of 1.1 days. Use your graphing calculator to answer the following questions. Write your answers in percent form. Round your answers to the nearest tenth of a percent.a) What is the probability of spending less than 8 days in recovery? %b) What is the probability of spending more than 5 days in recovery? %c) What is the probability of spending between 5 days and 8 days in recovery? %
Suppose that the monthly charges for cell phone plans in the United States are normally distributed with a mean of $93 and a standard deviation of $19. What is the probability that any one cell phone user has a monthly plan that exceeds $76? Round your answer to at least three decimal places.
Central Limit Theorem 2. According to the International Graduation Association, on average, high school girls in Canada spend $\$ 223.55$ on a prom dress with a standard deviation of $\$ 18.14$. If 76 high school girls are surveyed in Canada, what is the probability that the mean cost of their dresses is between $\$ 225.00$ and $\$ 228.00$ ? 3. It has been estimated that $23 \%$ of nurses are offered to work overtime on a regular basis. If we randomly selected 225 nurses, what is the probability that $25 \%$ or less of them will be offered overtime on a regular basis? SP.VS.717
According to the U.S. Census Bureau, the mean household income in the United States in 2000 was $57,045 and the median household income was $42,148.The variability of household income is quite large with an overall standard deviation of approximately $25000. Suppose a random sample of 225 households was selected. What is the probability that the sample mean would be above $60,245?
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $133,000. Assume the standard deviation is $45,000. Suppose you take a simple random sample of 22 graduates. Round all answers to four decimal places if necessary. For a single randomly selected graduate, find the probability that her salary is between $136,209 and $142,906. For a simple random sample of 22 graduates, find the probability that the average salary is between $136,209 and $142,906. For part 2), is the assumption of normal necessary? No Yes
3) The monthly household cost for a family has a normal distribution with mean of $4,300 and standard deviation of $220. Plot the probability and distribution functions. b. If the monthly income of the family is $4700, what is the probability that their monthly household cost exceeds their monthly income? а.
Two gamblers bet $1 each on the successive tosses of a coin: i.e., at each coin toss, player 1 pays $1 to player 2 if the coin shows ‘Heads’, and player 2 pays $1 to player 1 if the coin shows ‘Tails’. What is the mean and the standard deviation of the total winnings (measured in $, winnings can be negative) of player 1 after 6 tosses?
The average student loan debt for college graduates is $25,650. Suppose that that distribution is normal and that the standard deviation is $14,350. 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 $28,800 and $41,400 in student loan debt. c. The middle 20% of college graduates' loan debt lies between what two numbers? Low: $ High: $
3. After being nominated for an MTV Music Award, the probability of winning is 22%. If Ariana Grande has been nominated for five awards, what is the chance that she will win at least one award? How many awards should she expect to win? What is the standard deviation associated with this probability?
Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $138,000. Assume the standard deviation is $44,000. Suppose you take a simple random sample of 19 graduates. Round all answers to four decimal places if necessary. For a single randomly selected graduate, find the probability that her salary is between $141,759 and $156,006. For a simple random sample of 19 graduates, find the probability that the average salary is between $141,759 and $156,006.

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