Hi please answer this practice problem, so I can review my work ! Open response: Justify conditions once, make sure it's clear what procedure you're using for each part (in name andformula). STATE, PLAN, DO, CONCLUDEHave you ever been on vacation? How many variables are there to consider: family, solo, destination, travel, eating,entertainment? Stuffed Suitcase (data driven travel agency) tries to summarize information in a well researched dataanalysis and we'll be using this context to investigate the findings!1) If the mean of the sampling mean distribution is $6800 and it is assumed the distribution of vacation cost isnormally distrībuted. You collect a SRS of families and found a sample mean of $7000 with a samplestandard deviation of $750 from a sample of 20 families.a) What is the probability of obtaining a sample mean greater than these if similar practices wereapplied?b) How large of a sample would be needed for this sample mean to represent the 97th percentile?

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Description: Hi please answer this practice problem, so I can review my work ! Open response: Justify conditions once, make sure it's clear what procedure you're using for each part (in name andformula). STATE, PLAN, DO, CONCLUDEHave you ever been on vacation? Ho

1. From the given information, μ=6800x¯=7000s=750n=20 a. Consider, the probability of obtaining a…

Answered: Open response: Justify conditions once,…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

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Hi please answer this practice problem, so I can review my work !

Open response: Justify conditions once, make sure it's clear what procedure you're using for each part (in name and
formula). STATE, PLAN, DO, CONCLUDE
Have you ever been on vacation? How many variables are there to consider: family, solo, destination, travel, eating,
entertainment? Stuffed Suitcase (data driven travel agency) tries to summarize information in a well researched data
analysis and we'll be using this context to investigate the findings!
1) If the mean of the sampling mean distribution is $6800 and it is assumed the distribution of vacation cost is
normally distrībuted. You collect a SRS of families and found a sample mean of $7000 with a sample
standard deviation of $750 from a sample of 20 families.
a) What is the probability of obtaining a sample mean greater than these if similar practices were
applied?
b) How large of a sample would be needed for this sample mean to represent the 97th percentile?

Expert Solution

Step 1

From the given information,

$μ = 6800 \bar{x} = 7000 s = 750 n = 20$

Consider, the probability of obtaining a sample mean greater than these if similar practices were applied is,

$P (\bar{x} > 7000) = P (\frac{\bar{x} - μ}{\frac{s}{\sqrt{n}}} > \frac{7000 - μ}{\frac{s}{\sqrt{n}}}) = P (z > \frac{7000 - 6800}{\frac{750}{\sqrt{20}}}) = P (z > 1.1926) = 1 - P (z \leq 1.1926) = 1 - 0.8835 c a l c u l a t e d f r o m t h e e x c e l f u n c t i o n, = N O R M . D I S T (1.1926, 0, 1, T R U E) = 0.1165$

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