**Normal Distribution of Prices for HD Televisions**The graph illustrates a normal distribution for the prices paid for a particular model of HD television. The mean price paid is $1400, and the standard deviation is $125.### Table of Percentages for Price Ranges- **What is the approximate percentage of buyers who paid less than $1150?** - Answer: 2.28%- **What is the approximate percentage of buyers who paid more than $1650?** - Answer: 2.28%- **What is the approximate percentage of buyers who paid between $1150 and $1400?** - Answer: 49.87%- **What is the approximate percentage of buyers who paid between $1400 and $1525?** - Answer: 34.13%- **What is the approximate percentage of buyers who paid between $1275 and $1525?** - Answer: 68.26%- **What is the approximate percentage of buyers who paid between $1400 and $1775?** - Answer: 49.87%### Detailed Explanation of the GraphThe graph shows the distribution of prices in a bell-shaped curve, which is characteristic of a normal distribution. The x-axis represents the price in dollars, ranging from the left-end ($1025) to the right-end ($1775). The y-axis represents the frequency of buyers or the percentage.- **Key Points on the Graph:** - The mean price ($1400) is at the center of the distribution. - 1st standard deviation (mean ± $125): - $1275 to $1525 contains approximately 68.26% of the buyers. - 2nd standard deviation (mean ± $250): - 95% of the buyers fall within this range. - Prices below $1150 and above $1650 each cover approximately 2.28% of the buyers respectively. The distribution shows that most buyers paid prices within one standard deviation of the mean, and very few buyers paid prices at the extreme ends of the distribution. Understanding this distribution is crucial for analyzing the pricing strategies and consumer behavior regarding HD TV purchases.

Answered: Image /qna-images/answer/b56d4d52-fe92-401a-8d0e-4cacd397a85a.jpg

Answered: The graph illustrates a normal…

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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