The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2663. Assume the standard deviation is $506. A real estate firm samples 106 apartments.Find the 9 percentile of the sample mean. Round the answer to at least two decimal places. High-rent district: The mean monthly rent for a one-bedroom apartmentwithout a doorman in Manhattan is $2663. Assume the standard deviation is$506. A real estate firm samples 106 apartments. Use Excel.Part 1 of 5(a) What is the probability that the sample mean rent is greater than$2733? Round the answer to at least four decimal places.The probability that the sample mean rent is greater than $2733 is .0772Alternate Answer:The probability that the sample mean rent is greater than $2733 is0.0772.Part 2 of 5(b) What is the probability that the sample mean rent is between $2500and $2575? Round the answer to at least four decimal places.The probability that the sample mean rent is between $2500 and $2575 is .0367Part: 2/5Part 3 of 5(c) Find the 90th percentile of the sample mean. Round the answer to atleast two decimal places.The 90th percentile of the sample mean rent is S

It is given asa) P( sample mean rent is gteater than $2733 ) = 0.0772b) P( sample mean rent is…

Answered: (c) Find the 90th percentile of 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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The mean monthly rent for a one-bedroom apartment without a doorman in Manhattan is $2663. Assume the standard deviation is $506. A real estate firm samples 106 apartments. Find the 9 percentile of the sample mean. Round the answer to at least two decimal places.

High-rent district: The mean monthly rent for a one-bedroom apartment
without a doorman in Manhattan is $2663. Assume the standard deviation is
$506. A real estate firm samples 106 apartments. Use Excel.
Part 1 of 5
(a) What is the probability that the sample mean rent is greater than
$2733? Round the answer to at least four decimal places.
The probability that the sample mean rent is greater than $2733 is .0772
Alternate Answer:
The probability that the sample mean rent is greater than $2733 is
0.0772.
Part 2 of 5
(b) What is the probability that the sample mean rent is between $2500
and $2575? Round the answer to at least four decimal places.
The probability that the sample mean rent is between $2500 and $2575 is .0367
Part: 2/5
Part 3 of 5
(c) Find the 90th percentile of the sample mean. Round the answer to at
least two decimal places.
The 90th percentile of the sample mean rent is S

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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