In the first quarter of 2017, the average mortgage for first time buyers was R910,000. Assuming a normal distribution and a standard deviation of R50,000. What proportion of mortgages were between R890,000 and R990,000 (rounded off to three decimals)? A. 0.601 B. 0.345 C. 0.945 D. 1.600

In the first quarter of 2017, the average mortgage for first time buyers was R910,000. Assuming a normal distribution and a standard deviation of R50,000. What proportion of mortgages were between R890,000 and R990,000 (rounded off to three decimals)? A. 0.601 B. 0.345 C. 0.945 D. 1.600

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

See similar textbooks

Related questions

Q: The amount of time a Roanoke College student spends on Instagram has an approximately exponential…

A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…

Q: According to a yahoo!finance article dated September 7, 2021, the top vehicles for resale value had…

A: Given data is 60,62,64,65,66,66,67,70sample size(n)=8

Q: llowing is the historical data of inf

A: Given, Year Inflation rate 2019 2.01% 2017 2.91% 2015 1.23% 2013 2.96% 2011 5.48%…

Q: Suppose you select a sample of 2,000 high school seniors' verbal SAT scores. The mean and standard…

Q: Solve the following. Show your complete solution. The average price of a kilogram of ham is ₱1,200.…

A: Given,sample size(n)=30mean(μ)=1200standard deviation(σ)=140

Q: A uniform distribution has endpoints 4 and 18. A. What is the mean? B. What is the standard…

A: Hey there! Thank you for posting the question. Since your question has more than 3 parts, we are…

Q: Rate of Return 0.26 0.26 0.03 0.06 0.06 0.04 -0.04 0.22 0.02 0.46 0.06 0.14 0.19 0.05 -0.05 -0.02…

A: Given data: Rate of Return: 0.26, 0.46, -0.05, 0.06, 0.01, 0.26, 0.06, -0.02, -0.01, 0.11, 0.03,…

Q: approximately normally distributed, find the probability that a randomly selected monthly payment…

A: The average monthly mortgage payment including principal and interest is P98200. If the standard…

Q: In a population of ages where the mean age is 45 and the standard deviation is 5.25, what are the…

A: Given mean age = 45Standard deviation = 5.25The Z score with 0.0505 to its left is -1.64 and the Z…

Q: In preparing your monthly report, you want to determine whether or not your firm's sales for the…

A: The given data is as follows:…

Q: The following sales data are available for 2003- 2008: Year Sales 2003 33 2004 36 2005 38 2006 43…

A: 3-year moving average can be calculated by taking 3 data points from start and by calculating the…

Q: A hospital director is told that 57%5 of the emergency room visitors are insured. The director wants…

A: Given information- Population proportion, p = 0.57 Sample size, n = 60 Sample proportion is- We…

Q: From the data given below determine the line of trend and hence find the expected value for 1986.

A: Here use regression line formula

Q: Calculate the median of the data shown, to two decimal places x 28.1 18.5 12.9 17 11.4 9.7 28.8…

A: From the given information, Consider, the data can be expressed in the increasing order as shown…

Q: e. Ninety-eight percent of the monthly intern pays are between what two values, symmetrically…

Q: The 5-year annual investment returns of MGM Resorts International (MGM) are below: Year Annual…

A: The standard deviation of annual returns can be calculated using the formula given by, SD = √[(Ri –…

Q: There are four brothers in a family. Their ages are 7 years,10 years,15 years, and 21 years.…

Q: Laura learned that the average GPA in her school is 3.6 with a standard deviation of 0.3. If her GPA…

A: From the given information, Mean = 3.6 Standard deviation = 0.3 The objective is to find the…

Q: An accounting firm uses sampling methods in its client auditing processes. Accounts of a particular…

A: 3) An accounting firm uses sampling methods in its client auditing processes. Accounts of a…

Q: Calculate F statistic for the following. If SSB = 15.62 (dfb =4) and SSW = 6.39 (dfw = 16)

A: SSB = 15.62 (dfb =4) and SSW = 6.39 (dfw = 16)

Q: The instructor of a discrete mathematics class gave two tests. Exactly one-third of the students…

Q: The domestic airfare for business travel for the current year and the preVious year was reported. A…

A: t-test Statistic A t-test is an inferential statistic that is used and whether there's a significant…

Q: A 138.

A: Probability is the method used to obtain the chance of an event happening. It never takes negative…

Q: Today, the waves are crashing onto the beach every 4.6 seconds. The times from when a person arrives…

A: From the given question, we can say that X be a random variable which follows uniform distribution.…

Q: Given below are the seasonal indices of sales of a firm for the year 1998 : Month Jan. | Feb. Mar.…

Q: On a nationwide math test, the mean was 72 and the standard deviation was 7. If Roberto scored 90,…

A: Given that, Mean = 72 Standard deviation = 7

Q: Please answer B and C:

A: Solution: b. Let X1 be the expenditure of the male customers and X2 be the expenditure of the female…

Q: Calculate Mean Deviation (from arithmetic average) for the following values. Also calculate its…

A: Data given 4800,4600,4400,4200,4000

Q: It is often quoted that in a normal distribution, 95% of the data lies 1.96 deviations either side…

A: Let X be the random variable X~ Normal (0, 1)

Q: C2. GSS 2014 and GSS 2018 respondents were asked their opinion on whether homosexuals should have…

A: Given information: GSS 2014 and GSS 2018 respondents were asked their opinion on whether…

Q: Colin checked the hit counters of 5 websites to track how many people visited them yesterday. He…

A: Measure of central tendency measures the central or average value of a dataset. Measures of…

Q: Sofia wants to determine the average household expenditure on lawn care products per year. She…

A: Population standard deviation σ = 19.2The confidence interval = 0.95Significance level (α) = 1-…

Q: State whether the mean, median, mode is being used. a. In 2002,there were as many people aged 25 and…

A: A measure of central tendency describes a set of data by identifying the central position in the…

Q: From this table, compute the ff: Mean: A. 1.40 B. 1.96 C. 1.55 D. 4.12 E. 4.70 Standard…

A: We have given that data I want to find mean and standard deviation Mean = sum of all…

Q: Assume monthly returns of 1%, -2%, 3% and 1%. What is periodic arithmetic mean, geometric mean,…

A: Given Information: Consider the given dataset: 1%, -2%, 3% and 1%

Q: Listed are the net sales for a San Francisco-area mail-order retailer for the years 2009 to 2018.…

A: Given data is for the net sales for a San Francisco–area mail-order retailer for the years 2009 to…

Question

A. 0.601
B. 0.345
C. 0.945
D. 1.600

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.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps with 1 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

The Consumer Price Index is reported monthly by the U.S. Bureau of Labor Statistics. It reports the charge in prices for a market basket of goods from one period to another. The index for 2010 was 213.967. BY 2017, it increased to 239.051 What was the geometric mean annual increase for the period? ( Round your answer to 1 decimal)
The time that a student spends on finding a certain book in library have an exponential distribution of 8 minutes. Find the following : A. Rate parameter B. standard deviation C. probability that the time spent in searching is less than 5 minutes D. 50th percentile E. Time spent that belongs to the highest 5%
3)The following table shows data for the price of gasolince (per gallon) in various gasstations in a city. Complete the frequency table and anwer the following questions?Round to the nearest tenth of a percent if necessary.Price of Gas FrequencyCumulativeFrequencyRelativeFrequency0.00-0.99 11.00-1.99 12 132.00-2.993.00-3.99 19 594.00-4.99 625.00-5.99 63a.) What percent of the stations have price of gasoline at least $3 per gal? Round to thenearest tenth of a percent if necessary.b.) Find the mean price of gasoline? Round to the nearest cent if necessary.
Solve for the mean and standard deviation of the following Binomial distributions. a. n = 20 and p = 0.70 b. n = 70 and p = 0.35 c. n = 100 and p = 0.50
1. The amount of time a Tech student spends on Instagram has an approximately exponential distribution with mean 60 minutes. a. What is the probability a randomly selected student spends less than 45 on Instagram? b. Illustrate your answer from a. using the pdf c. Find the cumulative distribution function for the time students spend on Instagram. d. What is the probability a randomly selected student is on Instagram for a time within 2 standard deviation of the mean?
It is often quoted that in a normal distribution, 95% of the data lies 1.96 deviations either side of the mean. How many deviations from the mean would 88 percent lie?
- The percent increase in enrollment at a junior college for the last 5 years were 9.8%, 14.8%, 12.7%, 10.9% and 18.7%. Determine the geometric mean percent increase over the last 5 years.
Suppose that a company's annual sales were $1,200,000 in 1999. The annual growth rate of sales from 1999 to 2000 was 16%, from 2000 to 2001 was -5%, and from 2001 to 2002 was 22%.The geometric mean growth rate of sales over this three-year period is calculated as 10.37%. Use the geometric mean growth rate and determine the forecasted sales for 2004.A. 1,780,678B. 1,200,014C. 1,965,337D. 1,613,371E. 1,422,197
The figure in the popup window, shows the one-year return distribution for RCS stock. Calculate: a. The expected return. b. The standard deviation of the return. Note: Make sure to round all intermediate calculations to at least five decimal places.
The production of hybrid cars increased from $3.94 million in 2003 to $6.93 million in 2013. Calculate the average annual percent growth in the production of hybrid cars (use the geometric mean concept). Express your answer as a percentage rounded to two (2) decimal places.
The following are the P/E ratios (price of stock divided by projected earnings per share) for 15 banks. 34, 19, 21, 20, 23, 14, 22, 29, 23, 24, 43, 31, 23, 18, 15 Find 10th and 75th percentiles for these ratios.(If necessary, consult a list of formulas.) (a) The 10th percentile: (b) The 75th percentile: