The average price of a college math textbook is $153 and the standard deviation is $20. Suppose that 48 textbooks are randomly chosen. Round all answers to 4 decimal places where possible. a. What is the distribution of ? - N b. For the group of 48, find the probability that the average price is between $151 and $154. c. Find the first quartile for the average textbook price for this sample size. $ (round to the nearest cent)

The average price of a college math textbook is $153 and the standard deviation is $20. Suppose that 48 textbooks are randomly chosen. Round all answers to 4 decimal places where possible. a. What is the distribution of ? - N b. For the group of 48, find the probability that the average price is between $151 and $154. c. Find the first quartile for the average textbook price for this sample size. $ (round to the nearest cent)

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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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.

Question

The average price of a college math textbook is $153 and the standard deviation is $20. Suppose
that 48 textbooks are randomly chosen. Round all answers to 4 decimal places where possible.
a. What is the distribution of ? T - N(
b. For the group of 48, find the probability that the average price is between $151 and $154.
c. Find the first quartile for the average textbook price for this sample size. $
(round
to the nearest cent)
d. For part b), is the assumption that the distribution is normal necessary? O YesO No
Hint:
Some Helpful Videos:
• Finding the Sampling Distribution [+]
• Finding a Probability Using the Central Limit Theorem [+]
• Finding Value Given a Probability Using the Central Limit Theorem 2 [+]
• The Central Limit Theorem For Sums [+]

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