The image presents a study of car prices using a normal distribution graph. The graph showcases the prices paid for a particular model of a new car, where:- The mean price is $22,000.- The standard deviation is $2,000.The graph visualizes the 68-95-99.7 Rule, also known as the Empirical Rule. According to this rule:- 68% of data falls within one standard deviation (between $20,000 and $24,000).- 95% of data falls within two standard deviations.- 99.7% of data falls within three standard deviations.In the graph, the area between $18,000 and $22,000 represents one standard deviation below the mean. This segment accounts for 34% of the data, as the total for one standard deviation (68%) is symmetrically divided.Users are prompted to determine the percentage of buyers who paid between $18,000 and $22,000, which is explicitly 34%.

Based on the given information, prices paid is normally distributed with mean $22,000 and standard deviation $2,000. By empirical rule, Approximately 68% of the data values lie within 1 standard deviation on each side of the mean. Approximately 95% of the data values lies within 2 standard deviations on each side of the mean. Approximately 99.7% of the data values lies within 3 standard deviations on each side of the mean Empirical rule may also write in following ways: For a normal distribution, the empirical rule (50-34-14% Rule) state that 50% of the observations falls above the mean value, 34% of the observations falls in between the mean value and 1 standard deviation above the mean, 13.5% of the observations falls in between 1 and 2 standard deviations above the mean, and 2.5% of the observations falls above 2 standard deviations of mean respectively. The percentage of buyers who paid between $18,000 and $22,000 is obtained as follows: The score $18,000 is 2 standard deviation below the mean. From the given information, 34% of the observations falls in between the mean value and 1 standard deviation below the mean, 13.5% of the observations falls in between 1 and 2 standard deviations below the mean. Thus, the percentage of buyers who paid between $18,000 and $22,000 is 34%+13.5%=47.5%. Therefore, the percentage of buyers who paid between $18,000 and $22,000 is 47.5%.

Math

Statistics

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 $18,000 and $22,000. 16 18 20 22 24 26 Price of a Model of a New Car (Thousands) The percentage of buyers who paid between $18,000 and $22,000 is %. (Type an exact answer.) 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 $18,000 and $22,000. 16 18 20 22 24 26 Price of a Model of a New Car (Thousands) The percentage of buyers who paid between $18,000 and $22,000 is %. (Type an exact answer.) 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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