Answered: Listed below are the amounts of net…

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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Listed below are the amounts of net worth in millions of the 10 wealthiest celebrities in a certain country. Construct a 90% confidence interval. What does the result tell us about the population of all the celebrities? Does the data appear to be from a normally distributed population as required?

247 208 196 173 166 161 148 148 143 143

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.

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