Use Excel’s Analysis ToolPak, with a seed of 1, to generate 500 random observations based on the following frequency distribution.OutcomesFrequency112522893101Report the mean and standard deviation of the 500 observations.Note: Round your answers to 4 decimal places. How many of the 500 observations have a value less than 3? Based on the 500 observations, what is the probability that the outcome has a value greater than 1?Note: Report the probability in percentage with two decimal places.

Given that, The seed is 1 The sample size is 500 The frequency distribution is as follows,…

Answered: Use Excel’s Analysis ToolPak, with a…

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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Use Excel’s Analysis ToolPak, with a seed of 1, to generate 500 random observations based on the following frequency distribution.

Outcomes	Frequency
1	125
2	289
3	101

Report the mean and standard deviation of the 500 observations.

Note: Round your answers to 4 decimal places.
How many of the 500 observations have a value less than 3?
Based on the 500 observations, what is the probability that the outcome has a value greater than 1?

Note: Report the probability in percentage with two decimal places.

Definition Definition Measure of central tendency that is the average of a given data set. The mean value is evaluated as the quotient of the sum of all observations by the sample size. The mean, in contrast to a median, is affected by extreme values. Very large or very small values can distract the mean from the center of the data. Arithmetic mean: The most common type of mean is the arithmetic mean. It is evaluated using the formula: μ = 1 N ∑ i = 1 N x i Other types of means are the geometric mean, logarithmic mean, and harmonic mean. Geometric mean: The nth root of the product of n observations from a data set is defined as the geometric mean of the set: G = x 1 x 2 ... x n n Logarithmic mean: The difference of the natural logarithms of the two numbers, divided by the difference between the numbers is the logarithmic mean of the two numbers. The logarithmic mean is used particularly in heat transfer and mass transfer. ln x 2 − ln x 1 x 2 − x 1 Harmonic mean: The inverse of the arithmetic mean of the inverses of all the numbers in a data set is the harmonic mean of the data. 1 1 x 1 + 1 x 2 + ...

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