SAT Scores in Florida According to the 2017 SAT Suite of Assessments Annual Report, the average ERW (English, Reading, Writing) SAT score in Florida was 520. Assume the scores are Normally distributed with a standard deviation of 100. Answer the following including an appropriately labeled and shaded Normal curve for each question. a. What is the probability that an ERW SAT taker in Florida scored 500 or less? b. What percentage of ERW SAT takers in Florida scored between 500 and 650? c. What ERW SAT score would correspond with the 40th percentile in Florida?
SAT Scores in Florida According to the 2017 SAT Suite of Assessments Annual Report, the average ERW (English, Reading, Writing) SAT score in Florida was 520. Assume the scores are Normally distributed with a standard deviation of 100. Answer the following including an appropriately labeled and shaded Normal curve for each question. a. What is the probability that an ERW SAT taker in Florida scored 500 or less? b. What percentage of ERW SAT takers in Florida scored between 500 and 650? c. What ERW SAT score would correspond with the 40th percentile in Florida?
Solution Summary: The author determines the percentage probability of Florida ERW SAT takers who scored 500 or less.
SAT Scores in Florida According to the 2017 SAT Suite of Assessments Annual Report, the average ERW (English, Reading, Writing) SAT score in Florida was 520. Assume the scores are Normally distributed with a standard deviation of 100. Answer the following including an appropriately labeled and shaded Normal curve for each question.
a. What is the probability that an ERW SAT taker in Florida scored 500 or less?
b. What percentage of ERW SAT takers in Florida scored between 500 and 650?
c. What ERW SAT score would correspond with the 40th percentile in Florida?
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.
Morningstar tracks the total return for a large number of mutual funds. The following table shows the total return and the number of funds for four categories of mutual funds.
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DATA file
Type of Fund
Domestic Equity
Number of Funds
Total Return (%)
9191
4.65
International Equity
2621
18.15
Hybrid
1419
2900
11.36
6.75
Specialty Stock
a. Using the number of funds as weights, compute the weighted average total return for these mutual funds. (to 2 decimals)
%
b. Is there any difficulty associated with using the "number of funds" as the weights in computing the weighted average total return in part (a)? Discuss. What else might be used for weights?
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c. Suppose you invested $10,000 in this group of mutual funds and diversified the investment by placing $2000 in Domestic Equity funds, $4000 in International Equity funds, $3000 in Specialty Stock…
The days to maturity for a sample of five money market funds are shown here. The dollar amounts invested in the funds are provided.
Days to
Maturity
20
Dollar Value
($ millions)
20
12
30
7
10
5
6
15
10
Use the weighted mean to determine the mean number of days to maturity for dollars invested in these five money market funds (to 1 decimal).
days
c. What are the first and third quartiles?
First Quartiles (to 1 decimals)
Third Quartiles (to 4 decimals)
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Which companies spend the most money on advertising? Business Insider maintains a list of the top-spending companies. In 2014, Procter & Gamble spent more than any other company, a whopping $5 billion. In second place was Comcast, which spent $3.08 billion (Business Insider website, December 2014). The top 12 companies and
the amount each spent on advertising in billions of dollars are as follows.
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DATA file
Company
Procter & Gamble
Comcast
Advertising
($billions)
$5.00
3.08
2.91
Company
American Express
General Motors
Advertising
($billions)
$2.19
2.15
ETET
AT&T
Ford
Verizon
L'Oreal
2.56
2.44
2.34
Toyota
Fiat Chrysler
Walt Disney Company
J.P Morgan
a. What is the mean amount spent on advertising? (to 2 decimals)
2.55
b. What is the median amount spent on advertising? (to 3 decimals)
2.09
1.97
1.96
1.88
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