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The interest rates of 5 banks are given below. Interest rates are claimed to be 4.5 different from the median. Find the account value using this data.

The interest rates of 5 banks are given below. Interest rates are claimed to be 4.5 different from the median. Find the account value using this data.

MATLAB: An Introduction with Applications
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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The interest rates of 5 banks are given below. Interest rates are claimed to be 4.5 different from the median. Find the account value using this data.
 
 
  
 a)

6,100
 B)

3,500
 NS)

0.969
 D)

3,365
 TO)

0.156
Bank number Interest rate (Xi) 1 8,1 2 6,5 3 6,1 4 2,2 5 4,7
Transcribed Image Text:Bank number Interest rate (Xi) 1 8,1 2 6,5 3 6,1 4 2,2 5 4,7
Expert Solution
Step 1

Given claim: The median value is  different from 4.5.

Given sample values are,

2.2
4.7
6.1
6.5
8.1

Now subtract 4.5 from the sample values:

2.2-4.5=-2.3
4.7-4.5=0.2
6.1-4.5=1.6
6.5-4.5=2
8.1-4.5=3.6

 

Here, the number of negatives signs is 1 and the number of positive signs is 4.

Hence, the variable X=4 follows Binomial distribution with n=5 and p=0.5.

The corresponding critical region is X<=4.

 

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