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Use the following encoded probability distribution for cost to determine the median. 09 08 07 0.6 Less 05 Than 04 02 0.1 02 03 0.4 0.5 Greater Than 0.6 07 0.8

Use the following encoded probability distribution for cost to determine the median. 09 08 07 0.6 Less 05 Than 04 02 0.1 02 03 0.4 0.5 Greater Than 0.6 07 0.8

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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**Using Probability Distributions to Determine the Median** In this exercise, you will use the following encoded probability distribution for cost to determine the median. The given graph is a cumulative probability distribution plotted against cost. Here’s a detailed explanation of the graph: - The x-axis represents the cost values ranging from 10 to 100. - The y-axis is the cumulative probability, split into two parts: "Less Than" and "Greater Than," each on either side of the y-axis. - The red curve represents the probability distribution, showing how the probability accumulates as cost increases from left to right. To find the median, look for the point on the x-axis where the cumulative probability is 0.5 (50%), which is the point where half the distribution lies below and half lies above. **Graph Explanation:** 1. **X-axis**: Cost, ranging from 10 to 100. 2. **Y-axis**: Probability, split into "Less Than" (left side, probabilities ranging from 0 to 1) and "Greater Than" (right side, probabilities ranging from 1 to 0). 3. **Curve Analysis**: - The curve starts at (10, 0) and ascends gradually. - At the point where y = 0.5, the corresponding x-value provides the median cost. **Question:** Given this information, select the correct median cost from the options below. **Options:** - a. ${0.825}$ - b. ${30}$ - c. ${40}$ - d. ${50}$ - e. ${None of the above}$ By analyzing the graph carefully and identifying the x-value where the red curve crosses y = 0.5, you'll be able to determine the correct median cost.
Transcribed Image Text:**Using Probability Distributions to Determine the Median** In this exercise, you will use the following encoded probability distribution for cost to determine the median. The given graph is a cumulative probability distribution plotted against cost. Here’s a detailed explanation of the graph: - The x-axis represents the cost values ranging from 10 to 100. - The y-axis is the cumulative probability, split into two parts: "Less Than" and "Greater Than," each on either side of the y-axis. - The red curve represents the probability distribution, showing how the probability accumulates as cost increases from left to right. To find the median, look for the point on the x-axis where the cumulative probability is 0.5 (50%), which is the point where half the distribution lies below and half lies above. **Graph Explanation:** 1. **X-axis**: Cost, ranging from 10 to 100. 2. **Y-axis**: Probability, split into "Less Than" (left side, probabilities ranging from 0 to 1) and "Greater Than" (right side, probabilities ranging from 1 to 0). 3. **Curve Analysis**: - The curve starts at (10, 0) and ascends gradually. - At the point where y = 0.5, the corresponding x-value provides the median cost. **Question:** Given this information, select the correct median cost from the options below. **Options:** - a. ${0.825}$ - b. ${30}$ - c. ${40}$ - d. ${50}$ - e. ${None of the above}$ By analyzing the graph carefully and identifying the x-value where the red curve crosses y = 0.5, you'll be able to determine the correct median cost.
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