C. The following table shows the price of a text book for quantitive methods in different stores in Zambia: Sorted prices for a text book k126 k128 k129 k136 k159 k166 k167 k169 k169 k170 k172 k113 k120 k123 k145 k146 k147 k152 k153 k153 k166 k139 k142 k143 k161 k163 k165 k180 k183 k199 Assuming the prices are normally distributed; (i) Find the mean of the prices. (ii) Find the standard deviation of the prices. (iii) Find the percentage of values within one standard deviation around the mean. (iv) Find the percentage of values within two standard deviations around the mean (v) Find the percentage of values within three standard deviations around the mean.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
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Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 27PPS
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C. The following table shows the price of a text book for quantitive methods in
different stores in Zambia:
Sorted prices for a text book
k126 k128 k129
k113
k120
k123
k136 k139 k142 k143
k145 k146 k147 k152 k153
k153 k159 k161 k163 k165
k166 k166 k167 k169 k169 k170 k172 k180 k183 k199
Assuming the prices are normally distributed;
(i) Find the mean of the prices.
(ii) Find the standard deviation of the prices.
(iii) Find the percentage of values within one standard deviation around the
mean.
(iv) Find the percentage of values within two standard deviations around the
mean
(v) Find the percentage of values within three standard deviations around the
mean.
|
Transcribed Image Text:C. The following table shows the price of a text book for quantitive methods in different stores in Zambia: Sorted prices for a text book k126 k128 k129 k113 k120 k123 k136 k139 k142 k143 k145 k146 k147 k152 k153 k153 k159 k161 k163 k165 k166 k166 k167 k169 k169 k170 k172 k180 k183 k199 Assuming the prices are normally distributed; (i) Find the mean of the prices. (ii) Find the standard deviation of the prices. (iii) Find the percentage of values within one standard deviation around the mean. (iv) Find the percentage of values within two standard deviations around the mean (v) Find the percentage of values within three standard deviations around the mean. |
Expert Solution
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Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts for you. To get the remaining sub-part solved please repost the complete question and mention the sub-parts to be solved.

The value of n in this case is 30.

The required mean of the prices can be obtained as:

x=ixin

The standard deviation can be obtained as:

s=ixi-xn-1

 

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