**Understanding Car Pricing Using Normal Distribution**When it comes to buying a car, not everyone pays the same price for the same model. The graph above illustrates a normal distribution of the amounts paid for a particular model of a new car. - **Key Information:** - **Mean (Average) Price:** $22,000 - **Standard Deviation:** $2,000Using the 68-95-99.7 Rule (Empirical Rule), we can determine the percentage of buyers who paid between $20,000 and $24,000.**Graph Details:**- The x-axis represents the price of the car model (in thousands), while the y-axis represents the number of car buyers.- The normal distribution curve is centered at the mean price of $22,000.- **Shaded Region (68%):** The area between $20,000 and $24,000 represents one standard deviation from the mean, capturing about 68% of the data.**Conclusion:** Using the 68-95-99.7 Rule, approximately 68% of buyers paid between $20,000 and $24,000 for the car. The percentage of buyers who paid between $20,000 and $24,000 is **68%**.

Mean = 22000 Standard deviation = 2000

Not everyone pays the same price for the same model of a car. The figure illustrates a normal distribution for the - 99.7%- 95% -68%- prices paid for a particular model of a new car. The mean is $22,000 and the standard deviation is $2000. Use the 68-95-99.7 Rule to find what percentage of buyers paid between $20,000 and $24,000. 24 26 28 Price of a Model of a New Car (Thousands) 16 18 20 22 The percentage of buyers who paid between $20,000 and $24,000 is %. Number of Car Buyers

Not everyone pays the same price for the same model of a car. The figure illustrates a normal distribution for the - 99.7%- 95% -68%- prices paid for a particular model of a new car. The mean is $22,000 and the standard deviation is $2000. Use the 68-95-99.7 Rule to find what percentage of buyers paid between $20,000 and $24,000. 24 26 28 Price of a Model of a New Car (Thousands) 16 18 20 22 The percentage of buyers who paid between $20,000 and $24,000 is %. Number of Car Buyers

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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