Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

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Answer 1

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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.

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

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***Please do not just simply copy and paste the other solution for this problem posted on bartleby as that solution does not have all of the parts completed for this problem. Please answer this I will leave a like on the problem. The data needed to answer this question is given in the following link (file is on view only so if you would like to make a copy to make it easier for yourself feel free to do so) https://docs.google.com/spreadsheets/d/1aV5rsxdNjHnkeTkm5VqHzBXZgW-Ptbs3vqwk0SYiQPo/edit?usp=sharing

The data needed to answer this question is given in the following link (file is on view only so if you would like to make a copy to make it easier for yourself feel free to do so) https://docs.google.com/spreadsheets/d/1aV5rsxdNjHnkeTkm5VqHzBXZgW-Ptbs3vqwk0SYiQPo/edit?usp=sharing

The following relates to Problems 4 and 5. Christchurch, New Zealand experienced a major earthquake on February 22, 2011. It destroyed 100,000 homes. Data were collected on a sample of 300 damaged homes. These data are saved in the file called CIEG315 Homework 4 data.xlsx, which is available on Canvas under Files. A subset of the data is shown in the accompanying table. Two of the variables are qualitative in nature: Wall construction and roof construction. Two of the variables are quantitative: (1) Peak ground acceleration (PGA), a measure of the intensity of ground shaking that the home experienced in the earthquake (in units of acceleration of gravity, g); (2) Damage, which indicates the amount of damage experienced in the earthquake in New Zealand dollars; and (3) Building value, the pre-earthquake value of the home in New Zealand dollars. PGA (g) Damage (NZ$) Building Value (NZ$) Wall Construction Roof Construction Property ID 1 0.645 2 0.101 141,416 2,826 253,000 B 305,000 B T 3…

Answer 2

Question

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.

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

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Answer 3

Question

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.

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

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Answer 4

Question

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.

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

Expert Solution & Answer

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Answer 5

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

Answer 6

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

Answer 7

Chapter 14, Problem 4E

(a)

To determine

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

Answer 8

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

Answer 9

(b)

To determine

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

Answer 10

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

Answer 11

(c)

To determine

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

Answer 12

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Answer 13

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Answer 14

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Answer 15

Ch. 14.2 - Every 10 years, the United States takes a census....Ch. 14.2 - Prob. 2JC Ch. 14.2 - Prob. 3JC Ch. 14.2 - Every 10 years, the United States takes a census....Ch. 14.2 - Prob. 5JC Ch. 14.3 - Prob. 6JC Ch. 14 - Salmon A specialty food company sells whole King...Ch. 14 - LSAT The LSAT (a test taken for law school...Ch. 14 - Prob. 3E Ch. 14 - Prob. 4E

Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

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Explain why it is not possible to determine the probability that the next Sunday customer will spend at least $40.

Explain whether it is possible to estimate the probability that the next 10 Sunday customers will spend an average of at least $40.

Explain whether it is possible to estimate that the next 50 Sunday customers will spend an average of at least $40.

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