An ethanol railroad tariff is a fee charged for shipments of ethanol on public railroads. An agricultural association publishes tariff rates for railroad-car shipments of ethanol. Assuming that the standard deviation of such tariff rates is $1350,determine the probability that the mean tariff rate of 200 randomly selected railroad-car shipments of ethanol will be within $120 of the mean tariff rate of all railroad-car shipments of ethanol. Interpret your answer in terms of sampling error. The probability is______.(Round to three decimal places as needed.) A half-century ago, the mean height of women in a particular country in their 20s was 63.4 inches. Assume that the heights of today's women in their 20s are approximately normally distributed with a standard deviation of 2.84 inches. If the mean height today is the same as that of a half-century ago, what percentage of all samples of 25 of today's women in their 20s have mean heights of at least 64.52 inches?About [ ]% of all samples have mean heights of at least 64.52 inches. (Round to one decimal place as needed.) For earthquakes with a magnitude 7.5 or greater on the Richter scale, the time between successive earthquakes has a mean of 470 days and a standard deviation of 356 days. Suppose that you observe a sample of four times between successive earthquakes that have a magnitude of 7.5 or greater on the Richter scale.a. On average, what would you expect to be the mean of the four times?470 daysb. How much variation would you expect from your answer in part (a)? (Hint: Use the three-standard-deviations rule.)The sample mean is expected to fall between [ ] and [ ] days.

Obtain the probability that the mean tariff rate of 200 randomly selected railroad car shipments of ethanol will be within $120 of the mean tariff rate of all railroad-car shipments of ethanol. The probability that the mean tariff rate of 200 randomly selected railroad car shipments of ethanol will be within $120 of the mean tariff rate of all railroad-car shipments of ethanol is obtained below as follows : The probability that the mean tariff rate of 200 randomly selected railroad car shipments of ethanol will be within $120 of the mean tariff rate of all railroad-car shipments of ethanol is 0.792. Interpret the probability in the context of sampling error. The probability is interpreted below as follows: There is about 79.2% chance that the sampling error made in estimating the mean tariff rate of all railroad-car shipments of ethanol will be at most $120

Answered: An ethanol railroad tariff is a fee…

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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An ethanol railroad tariff is a fee charged for shipments of ethanol on public railroads. An agricultural association publishes tariff rates for railroad-car shipments of ethanol. Assuming that the standard deviation of such tariff rates is $1350,determine the probability that the mean tariff rate of 200 randomly selected railroad-car shipments of ethanol will be within $120 of the mean tariff rate of all railroad-car shipments of ethanol. Interpret your answer in terms of sampling error.

The probability is______.

(Round to three decimal places as needed.)

A half-century ago, the mean height of women in a particular country in their 20s was 63.4 inches. Assume that the heights of today's women in their 20s are approximately normally distributed with a standard deviation of 2.84 inches. If the mean height today is the same as that of a half-century ago, what percentage of all samples of 25 of today's women in their 20s have mean heights of at least 64.52 inches?

About [ ]% of all samples have mean heights of at least 64.52 inches.
(Round to one decimal place as needed.)

For earthquakes with a magnitude 7.5 or greater on the Richter scale, the time between successive earthquakes has a mean of 470 days and a standard deviation of 356 days. Suppose that you observe a sample of four times between successive earthquakes that have a magnitude of 7.5 or greater on the Richter scale.

a. On average, what would you expect to be the mean of the four times?

470 days

b. How much variation would you expect from your answer in part (a)? (Hint: Use the three-standard-deviations rule.)

The sample mean is expected to fall between [ ] and [ ] days.

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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