Answered: the prices for a particular model of…

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 prices for a particular model of digital camera with 6.0 megapixel and an optical 3x zoom lens are shown below for 8 online retailers.round answer to 1dp

250 217 194 227 231 192 249

estimate the true mean for this particular model with 95% confidence.assume variable is normally distributed

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

Expert Solution

Step 1

Sample mean and standard deviation:

Enter the values of in columns A of an excel.

The sample mean is 222.9 (using the Excel function, =AVERAGE(A1:A6).

The sample standard deviation is 23.5 (using the Excel function, =STDEV.S(A1:A6)).

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