Example 3: A study was conducted that found the average price for an individual's first home inthe United States was $233,500. Assume this data was normally distributed with a populationstandard deviation of $14,750. Use this information to answer the following questions. It can bevery useful to draw a quick sketch of what the problem is asking for.a) Find the z-score that would correspond to a home price of $240,000.b) What is the probability that a randomly selected individual's first home price would be nomore than $250,000?c) What is the probability that a randomly selected individual's first home price would beless than $230,000 or greater than $250,000?

Answered: Example 3: A study was conducted that…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Similar questions

Solar energy is considered by many to be the energy of the future. A recent survey was taken to compare the cost of solar energy to the cost of gas or electric energy. Results of the survey revealed that the distribution of the amount of the monthly utility bill of a three-bedroom house using gas or electric energy had a mean of $117 and a standard deviation of $13. If the distribution can be considered normal: Approximately what percentage of homes will have a monthly utility bill less than $78? Note: Do NOT include the "%" sign Do NOT round any decimals, if applicable
If the mean speed for a major league fast ball is 90 miles per hour and the standard deviation is 5 miles per hour, what would the standardized score be for a pitch that is 97 miles per hour? O 0.4 4.0 1.4 O 1.0
It is known that incomes from the USA follow a normal distribution with a mean of $55,000 and a standard deviation of $12,000. A researcher took a sample of 100 people in the USA and obtained a sample mean of $67,000 with a standard deviation of $18,000. What are the characteristics of the sampling distribution. A. Mean = $55,000 and Standard Deviation of the Mean = $1200 B. Mean = $55,000 and Standard Deviation of the Mean = $12000 C. Mean = $67,000 and Standard Deviation of the Mean = $569.21 D. Mean = $67,000 and Standard Deviation of the Mean = $1800
The distribution of the amount of money spent by students for textbooks in a semester is approximately normal in shape with a mean of $235 and a standard deviation of $20. According to the standard deviation rule, almost 2.5% of the students spent more than what amount of money on textbooks in a semester? A. O $195 B. $215 C. $235 D. $275 E. $295
Please answer the following three multiple choice questions :) Summarized below are data for a study to see if hours of sleep per day for med and non-med students are the same: n x¯ s med students 25 5.8 0.83 non-med students 32 6.3 1.39 1. Find the test statistic (assume unequal standard deviation) A. -15.44 B. -5.69 C. -1.69 D. -1.81 2. Let tstat represent the value of the test statistic from the previous question. The degrees of freedom for the test are df = 52. To test the claim that the mean hours of sleep for med and non-med students is different, the P-value is calculated as: A. 2*pt( tstat, df=52, lower.tail = TRUE) B. 2*pt( tstat, df=52, lower.tail = FALSE) C. pt( tstat, df=52, lower.tail = TRUE) D. pt( tstat, df=52, lower.tail = FALSE) 3. The correct P-value is 0.098. At α = 0.05, we A. reject H0. The claim that means are different is not supported. B. reject H0. The claim that means are different is supported. C. fail to reject…
Suppose there is a city where the mean cost per month of a one-bedroom apartment is $1,500, with a standard deviation of $250. Approximately what percentage of one-bedroom apartments in the city cost between $750 and $1,000?
A successful basketball player has a height of 6 feet 11 inches, or 211 cm. Based on statistics from a data set, his height converts to the z score of 5.17. How many standard deviations is his height above the mean?
Approximately 10% of people in the U.S. earn an income of $200,000 per year or higher. If income were normally distributed, and the mean income is $40,000 per year, what is the standard deviation of income in the U.S.? (Note. these figures are not accurate.)

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS