Your company's monthly income average is 25000 $ with a standard deviation of 2000 $, whileaverage monthly cost is 20000 $ with a standard deviation of 1500 $. Both monthly incomeand costs are normally and independently distributed. You are thinking of buying a newequipment which costs 54000 $. What is the probability that you will be able to compensatethe cost of the new equipment by 12 month profit of your company.

Given: Let monthly income be X X ~ N(25000, 20002) Let monthly cost be Y Y ~ N(20000, 15002) Let P…

Answered: Your company's monthly income average…

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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A certain standardized test's math scores have a bell-shaped distribution with a mean of 520 and a standard deviation of 119. What percentage of standardized test scores is between 163 and 877? I can't figure out how to solve this problem for my stats homework and how the standard deviation works.
Jack's clothing sells on average, 25 shirts per week, sometimes a little more, sometimes a little less but typically a deviation of about 3. The cost per jacket is $65. Because Jack's is located in a sketchy part of town their insurance on inventory is 33% on all goods. The good news is free shipping to customers although UPS charges Jack's $8.50 for every delivery. It takes 2 weeks from the time jackets are ordered until they are received. Jack's supplier has said they only ship by pallet, and each pallet contains 75 jackets. If the reorder point is 50 what is the average flow time?
Jeremiah earned a score of 530 on Exam A that had a mean of 450 and a standard deviation of 40. He is about to take Exam B that has a mean of 63 and a standard deviation of 20. How well must Jeremiah score on Exam B in order to do equivalently well as he did on Exam A? Assume that scores on each exam are normally distributed.
Greg is in his first semester at a university and is taking a calculus course with a large enrollment. He just took the first midterm exam and is nervous about his score. Among all the students in the course, the mean of the exam was 85 with a standard deviation of 15.Find that grag has obtain less then 95.
The chart to the right shows that a professor's grading distribution is bell shaped, or normally shaped. The mean of the distribution is 74 and the standard deviation is 9. Using a Continuous Variable Normal Bell Distribution Model, calculate the minimum test score needed to score in the top 5% of the class. Complete your work in the worksheet by listing the formula inputs, labels for the formula inputs and make your calculations with formulas. This test problem is similar to what you studied in video # 32, 33 and 34 and homework problems # 17, 21 and 23. Relative Frequency Frequency Professor looks at all test score for a particular test (this is population data), and observes: 0.5 0.45 0.4 0.35 0.3 0.25 0.2 0.15 0.1 0.05 0 Mean = 74 Median = 74 Mode = 73 SD=9 0 0 0 up to 10 up 10 to 20 0 20 up to 30 0 30 up to 40 2 40 up to 50 29 50 up to 60 X = Score 112 60 up to 70 225 70 up to 80 111 80 up to 90 21 2 90 up 100 up to 100 to 110
Justin and Robbie are golfers. The distribution of Justin's golf scores has a mean of 225 and a standard deviation of 25. Robbie's golf score distribution has a mean of 240 and a standard deviation of 15. Both distributions are approximately normal and they are completely independent of each other. What is the closest probability that Justin will have a higher golf score than Robbie in a randomly selected golf round?
In a recent year, grade 6 Ohio State public school students taking a mathematics assessment test had a mean score of 303.1 with a standard deviation of 36. Possible test scores could range from 0 to 1000. Assume that the scores were normally distributed. This is not a normal approximation, so do not correct for continuity. Find the probability that a student had a score higher than 295. Find the probability that a student had a score between 230 and 305. What is the highest score that would still place a student in the bottom 16% of the scores? If 4000 students are randomly selected, how many will have a test score that is less than 300? A random sample of 40 students is drawn from this population. What is the probability that the mean test score is greater than 290?
A mathematics professor one to determine whether there is a different in the final average just between the past two semester (semester 1 and semester 2) of his business is statistics classes. For a random sample of 16 students from semester 1, the mean of the final averages was 75 with a standard deviation of 4. For a random sample of 9 students from semester 2, the mean was 73 with a standard deviation of 6. Choose the correct answer
Let's say that the mean score on this exam turns out to be 73 with a standard deviation of 12 and is normally distributed. If I gave a B to everyone who had an 80 or above, what percent of the class would get B's (or better)?
The actual value of the standard deviation can be zero or a positive number, why value can never be a negative number?
The mean of the test is 89 with a standard deviation of only 4. How likely (what probability) is there that a student scored a perfect score of 100 or better?
According to the New York Daily News, March 5, 2014, people 65 years and older watch an average of 50.5 hours of TV per week. We will estimate the standard deviation to be 12.7 hours per week. Your town has many social programs for senior citizens which may reduce the amount of TV that older people watch. You want to find out if it is true that people 65 and older in your town watch less than 50.5 hours of TV per week. So, you sample 40 people 65 and older in your town. You find that the average time that the 40 people watch per week is 45.8 hours. Can the claim be supported to a level of significance of α = .02, test the hypothesis?

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