Answered: The average amount of money that people…

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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Question

The average amount of money that people spend at Don Mcalds fast food place is $7.5200 with a standard deviation of $1.9400. 12 customers are randomly selected. Please answer the following questions, and round all answers to 4 decimal places where possible and assume a normal distribution.

What is the distribution of XX? XX ~ N(,)
What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)
What is the distribution of ∑x∑x? ∑x∑x ~ N(,)
What is the probability that one randomly selected customer will spend less than $7.0400?

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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