A survey finds that the prices paid for two-year-old Ford Fusion cars are normally distributed with a mean of $17,500.00 and a standard deviation of $500.00. Consider a sample of 10,000 people who bought two-year-old Ford Fusions.6800 of the people who bought two-year old Ford Fusions spends between $ .00 and $ .00How many people spends less than $17,000.00 people.How many people spends more than $19,000.00 people (Note this question has to do with the empirical rule and the symmetric nature of the normal distribution)

Given Mean=17500 Standard deviations=500

Answered: survey finds that the prices paid for…

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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A survey finds that the prices paid for two-year-old Ford Fusion cars are normally distributed with a mean of $17,500.00 and a standard deviation of $500.00. Consider a sample of 10,000 people who bought two-year-old Ford Fusions.

6800 of the people who bought two-year old Ford Fusions spends between $ .00 and $ .00
How many people spends less than $17,000.00 people.
How many people spends more than $19,000.00 people

(Note this question has to do with the empirical rule and the symmetric nature of the normal distribution)

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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