Lindvall Real Estate Virtual Tours produces videos of 16 minutes in length with a standard deviation of 4 minutes. The mean and standard deviation reported are population parameters. Suppose we select a sample of 49 videos produced by Lindvall Real Estate Virtual Tours. To what issues does one need to be alert to complete this problem?a. What percent of the sample means that we could possibly generate would have a sample mean greater than 17.0 minutes?b. What percent of the sample means that we could possibly generate would have a sample mean less than 17.0 minutes?c. What percent of the sample means that we could possibly generate would have a sample mean between 15.0 and 17.0 minutes?

Given that : The mean ( µ ) and standard deviation (σ ) is given by 16 minutes and 4 minutes…

Answered: Lindvall Real Estate Virtual Tours…

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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Lindvall Real Estate Virtual Tours produces videos of 16 minutes in length with a standard deviation of 4 minutes. The mean and standard deviation reported are population parameters. Suppose we select a sample of 49 videos produced by Lindvall Real Estate Virtual Tours. To what issues does one need to be alert to complete this problem?

a. What percent of the sample means that we could possibly generate would have a sample mean greater than 17.0 minutes?

b. What percent of the sample means that we could possibly generate would have a sample mean less than 17.0 minutes?

c. What percent of the sample means that we could possibly generate would have a sample mean between 15.0 and 17.0 minutes?

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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