Answered: Consumers spend an average of Php2,100…

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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Question

Consumers spend an average of Php2,100 per week in cash without being aware of where it goes. Assume that the amount of cash spent without being aware of where it goes is normally distributed and that the standard deviation is Php500. Between what two values will the middle 95% of the amounts of cash spent fall?

A. Php1,100 & Php3,100
B. Php1,110 & Php3,090
C. Php1,120 & Php3,080
D. Php1,150 & Php3,050

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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