The average production cost for major movies is 62 million dollars and the standard deviation is 18 million dollars. Assume the production cost distribution is normal. Suppose that 49 randomly selected major movies are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round all answers to 4 decimal places where possible. a. What is the distribution of X? X - N( 62 18 b. What is the distribution of ? a N( 62 2.5714 c. For a single randomly selected movie, find the probability that this movie's production cost is between 61 and 63 million dollars. d. For the group of 49 movies, find the probability that the average production cost is between 61 and 63 million dollars. e. For part d), is the assumption of normal necessary? Yes 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 [+] • The Central Limit Theorem For Sums [+] Hint

The average production cost for major movies is 62 million dollars and the standard deviation is 18 million dollars. Assume the production cost distribution is normal. Suppose that 49 randomly selected major movies are researched. Answer the following questions. Give your answers in millions of dollars, not dollars. Round all answers to 4 decimal places where possible. a. What is the distribution of X? X - N( 62 18 b. What is the distribution of ? a N( 62 2.5714 c. For a single randomly selected movie, find the probability that this movie's production cost is between 61 and 63 million dollars. d. For the group of 49 movies, find the probability that the average production cost is between 61 and 63 million dollars. e. For part d), is the assumption of normal necessary? Yes 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 [+] • The Central Limit Theorem For Sums [+] Hint

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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