Answered: What is the probability of an…

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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Question

Most graduate school of business require applicants for admission to take the Graduate Management Admission Council’s GMAT examination. Scores on GMAT are roughly normally distributed with a mean of 527 and a standard deviation of 112.

(i). What is the probability of an individual scoring below 500 on the GMAT?

Soln.(ii). What is the probability of an individual scoring above 500 on the GMAT?

Soln.

(iii). How high must an individual score on the GMAT to score to be in the 85th percentile?

Soln.
(iv). How high must an individual score on the GMAT in order to score in the highest 5%?

Soln.

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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