The average price of a college math textbook is $177 and the standard deviation is $29. Suppose that 43 textbooks are randomly chosen. Round all answers to 4 decimal places where possible. What is the distribution of ¯xx¯? ¯xx¯ ~ N(,) For the group of 43, find the probability that the average price is between $170 and
The average price of a college math textbook is $177 and the standard deviation is $29. Suppose that 43 textbooks are randomly chosen. Round all answers to 4 decimal places where possible. What is the distribution of ¯xx¯? ¯xx¯ ~ N(,) For the group of 43, find the probability that the average price is between $170 and
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 1P
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Question
The average price of a college math textbook is $177 and the standard deviation is $29. Suppose that 43 textbooks are randomly chosen. Round all answers to 4 decimal places where possible.
- What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)
- For the group of 43, find the probability that the average price is between $170 and $176.
- Find the 95th percentile for the average textbook price for this
sample size . $ (round to the nearest cent) - Find the 95th percentile for an individual textbook price. (round to the nearest cent) $
Expert Solution
Step 1
It is given that
Mean, μ = 177
Standard deviation, σ = 29
Sample size, n = 43
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