e average sale price of a certain brand of trucks is $41275 with a standard viation of $1340. Assume normal distribution. Show e the Excel formulas from the previous tab and show work on the right. The highest 25% paid at least a. b.

MATLAB: An Introduction with Applications
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ISBN:9781119256830
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Chapter1: Starting With Matlab
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The average sale price of a certain brand of trucks is $41275 with a standard
deviation of $1340. Assume normal distribution.
Show work
Use the Excel formulas from the previous tab and show work on the right.
a. The highest 25% paid at least
a.
b. The lowest 20% paid at most
b.
C.
c. The middle 80% paid between
and
Transcribed Image Text:The average sale price of a certain brand of trucks is $41275 with a standard deviation of $1340. Assume normal distribution. Show work Use the Excel formulas from the previous tab and show work on the right. a. The highest 25% paid at least a. b. The lowest 20% paid at most b. C. c. The middle 80% paid between and
Suppose a data set is normally distributed with a mean u = 70 and
the population standard deviation a = 10.
You want to find the cutoff value (x) for certain areas (p-values) of a normal distribution.
Left area (p 0.09)
In cell B3 type: =NORM.INV(0.09,70,10)
Right area (p= 0.09)
In cell B4 type: =NORM.INV(0.91,70,10)
Middle area (P3D0.60)
Using symmetryY, the middle area of a normal curve has an area of p-0.60, which leaves
1-0.60= 0.40 for the two tails. Each tail will receive half of this number. The left tail will
use p-0.20. The right tail will use 1-0.20 = 0.80.
In cell B5 type: =NORM.INV(0.20,70,10)
In cell C5 type: =NORM.INV(0.80,70,10)
Complete.cels 87to 89 and C9 in the same manner
Transcribed Image Text:Suppose a data set is normally distributed with a mean u = 70 and the population standard deviation a = 10. You want to find the cutoff value (x) for certain areas (p-values) of a normal distribution. Left area (p 0.09) In cell B3 type: =NORM.INV(0.09,70,10) Right area (p= 0.09) In cell B4 type: =NORM.INV(0.91,70,10) Middle area (P3D0.60) Using symmetryY, the middle area of a normal curve has an area of p-0.60, which leaves 1-0.60= 0.40 for the two tails. Each tail will receive half of this number. The left tail will use p-0.20. The right tail will use 1-0.20 = 0.80. In cell B5 type: =NORM.INV(0.20,70,10) In cell C5 type: =NORM.INV(0.80,70,10) Complete.cels 87to 89 and C9 in the same manner
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