3*In 1998, the average conventional first mortgage for new single-family homes was $195,000.Assuming a normal distribution and a standard deviation of $30,000, what proportion of themortgages were more than $260,000?O0.01500.74860.96640.99870.2514$4C%5Ç6AV&7W# 00DP8@OcricutOO

Answered: Image /qna-images/answer/38dfb63a-e931-41c8-995f-5bdfd199249e.jpg

Answered: In 1998, the average conventional first…

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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According to the Internal Revenue Service, income tax returns one year averaged $1,332 in refunds for taxpayers. One explanation of this figure is that taxpayers would rather have the government keep back too much money during the year than to owe it money at the end of the year. Suppose the average amount of tax at the end of a year is a refund of $1,332, with a standard deviation of $725. Assume that amounts owed or due on tax returns are normally distributed.(a) What proportion of tax returns show a refund greater than $1,900?(b) What proportion of the tax returns show that the taxpayer owes money to the government?(c) What proportion of the tax returns show a refund between $150 and $600?(Round the values of z to 2 decimal places, e.g. 2.53. Round your answers to 4 decimal places, e.g. 0.2531.) (a) P(x > $1,900) = (enter proportion rounded to 4 decimal places)(b) P(x < 0) = (enter proportion rounded to 4 decimal places) (c) P($150 ≤ x ≤ $600) = (enter…
Student loan debt is the only form of consumer debt that has grown since the peak of consumer debt in 2008. The average student loan of somebody younger than 30 is $24,350. Assume the standard deviation for debt is $3,000 per student.
In nutrition, the recommended daily allowance of vitamins is a number set by the government to guide an individual's daily vitamin intake. Actually, vitamin needs vary drastically from person to person, but the needs are closely approximated by a normal curve. To calculate the recommended daily allowance, the government first finds the standard deviation and the average need for vitamins among people in the population. The recommended daily allowance is then defined as the mean plus 2.7 times the standard deviation. What fraction of the population will receive adequate amounts of vitamins under this plan? Click here to see page 1 of the table for areas under the standard normal curve. Click here to see page 2 of the table for areas under the standard normal curve. The fraction of the population that will receive adequate amounts of vitamins under the given plan is (Type an integer or decimal rounded to the nearest thousandth as needed.)
According to a recent survey, the salaries of assistant professors have a mean of $40,756 and a standard deviation of $7500 . Assuming that the salaries of assistant professors follow a normal distribution, find the proportion of assistant professors who earn more than $53,000 . Round your answer to at least four decimal places.
The College Board National Office recently reported that in 2011-2012, the547,038 high school juniors who took the ACT achieved a mean score of 530 with a standard deviation of 123 on the mathematics portion of the test. Assume these test scores are normally distributed. d. How high does a student have to score to be in the top 10% of the high school juniors on the mathematical portion of the test?
A mechanic sells a brand of automobile tire that has a life expectancy that is normally distributed, with a mean life of 35,000 miles and a standard deviation of 2100 miles. He wants to give a guarantee for free replacement of tires that don't wear well. How should he word his guarantee if he is willing to replace approximately 10% of the tires? Click to view page 1 of the table. Click to view page 2 of the table. Tires that wear out by miles will be replaced free of charge. (Round to the nearest mile as needed.)
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Human body temperatures for healthy individuals have approximately a normal distribution with mean 98.25 °F and standard deviation .75 °F. (The past accepted value of 98.6 Fahrenheit was obtained by converting the Celsius value of 370, which is correct to the nearest integer.) a. Find the 90th percentile of the distribution. b. Find the 5th percentile of the distribution. c. What temperature separates the coolest 25% from the others?
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In 1998, the average conventional first mortgage for new single-family homes was $195,000. Assuming a normal distribution and a standard deviation of $30,000, what proportion of the mortgages were more than $260,000? 0.0150 0.7486 0.9664 0.9987 0.2514