1) Calculate the range, variance, and standard deviation of this data set. 2) Determine whether or not the data is normally distributed. If the data isn't normally distributed. Develop a normally distributed curve. (Using Empirical Rule). See attached file for full problem description.
The lifetime of a color television picture tube is normally distributed with a mean of 7.8 years and a standard deviation of 3 years. a. What is the probability that a picture tube will last more than ten years? b. If the firm guarantees the picture tube for 2 years, what percentage of the television sets sold will have
You are the production manager for an operation that produces circuit boards. Each board is tested at the end of the manufacturing process. Rejected boards are discarded and have no future value. For product B-17, you have kept data on the number of rejects for the past 38 weeks. Does this approximate a normal curve? Wha
An industrial oven used to cure san cores for a factory manufacturing engine blocks for small cars is able to maintain fairly constant temperatures. The temperature range of the oven follows a normal distribution with a mean of 450 F and a standard deviation of 25 F. Leslie Larsen, president of the factory is concerned about t
Using the standard normal table, determine the following probabilities. Sketch the associated areas. a. P(0 less than or equal to z less than or equal to 1.00) b. P(-2.50 less than or equal to z less than or equal to 3.01) c. P(z greater than or equal to 3.25) d. P(z less than or equal to -2.50).
1. As a Realtor, would be more beneficial to quote the mean or median price of homes in your area? Why or Why Not? 2. If you wanted your salary critiqued against others, would you prefer the HR Manager to use mean or median? Why or Why Not? 3. If a study examines: who/what/when/how much, it is termed a ______
A. Simulate 50 observations from a normal distribution with mean 0 and standard deviation 1. make a normal plot. b. Repeat the simulation of (a) but use an exponential distribution with mean = 1 how does the shape of the plot compare to the plot using normal data? c. Repeat the simulation in (a) but use a uniform distribu
See the attached file. Shoe Size Height Weight Age Male/ Female 11 6'1" 235 31 M 10 5'4" 135 45 F 8 5'6" 200 34 F 7 1/2 5'4" 120 23 F 8 5'7" 175 39 F 10 5'7" 190 49 M 10 5'11" 190 51 M 11 5'10' 180 47 M 8 1/2 5'8" 135 28 F 8 1/2 5'7" 220 49 F.
Scores on an exam for entering a private school are normally distributed, with a mean of 79and a standard deviation of 5. To be eligible to enter, a person must score in the top 10%. What is the lowest score you can earn and still be eligible to enter? Please show all work and make the final solution clear. Arnold earned an 8
1. The total area under a probability distribution graph is equal to _____. 2. The normal distribution is a _____ distribution. 3. Discuss the shape of the normal curve. 4. Define "confidence level" in estimating mu, the population mean.
The mean salary offered to students who are graduating from Coastal State University this year is $24,230, with a standard deviation of $3,712. A random sample of 80 Coastal State students graduating this year has been selected. What is the probability that the mean salary offer for these 80 students is 24,250 or less? Carry
Let's assume you have taken 100 samples of size 36 each from a normally distributed population. Calculate the standard deviation of the sample means if the population's variance is 25. Find P(9 < x < 15) when mu = 12 and sigma = 2. Write your steps in probability notation. Find P(x = 13) for a sample taken from a normally
Suppose that scores on a particular test are normally distributed with a mean of 120 and a standard deviation of 19. What is the minimum score needed to be in the top 5% of the scores on the test? Carry your intermediate computations to at least four decimal places, and round your answer to at least one decimal place.
Let be a standard normal random variable. Use the calculator provided to determine the value of c such that P(Z > c)=0.8849 Round your answer to at least two decimal places.
See attached file for full problem description. summary of options purchased at beginning of 4th quarter with 3 months to expiration (european style options) position shares premium strike price long calls 63,000 $20.45 $110 long puts 63,000 $13.15 $110 beginning end 4th Quarter 4th Quarter underly
1. A call option is the right to buy stock at $50 a share. Currently the option has six months to expiration, the volatility of the stock (standard deviation) is 0.30, and the rate of interest is 10 % a) What is the value of the option according to the Black-Scholes model if the price of the stock is $45, $50, or $55? b) What
An executive at Westinghouse drives from his home in the suburbs near Pittsburgh to his office in the center of the city. The driving times are normally distributed with a mean of 35 minutes and a standard deviation of 8 minutes. a. In what percent of the days will it take him less than 30 minutes to drive to work? b.
What is the area between 415 pounds and the mean of 400 pounds? What is the area between the mean and 395 pounds? What is the probability of selecting a value at random and discovering it has a value of less than 395 pounds?
1. The use of simulation to examine corporate operations (industrial dynamics), national economies (econometric models), and urban governments is known as A. Monte Carlo Methods B. Operational Gaming C. System Simulation D. Queuing Methods 2. PERT A. Is a network technique that uses three time estimat
How long does it take to travel to work Monday thru Friday for 10 days? Monday = 30 + 35 /2 = 65/2 = 32.5 or 32 ½ or 0.10485 Tuesday = 35 + 25 /2 = 60/2 = 30 or 0.09675 Wednesday = 30 + 30 = 60/2 = 30 or 0.09675 Thursday = 25 + 30 /2 = 55/2 = 27.5 or 27 ½ or 0.0887 Friday = 35 + 35 = 70 /2 = 35 or 0.1129 ___________
14. Approximately ______ of the area (cases or observations) under the normal curve is found between 1 standard deviation above and 1 standard deviation below the mean. 15. What percentage of area (or cases or observations) is found above a z value of 1.96? ._____ 16. A random sample of 20 observations is drawn from a
The number of passengers on the Carnival Sensation during one-week cruises in the Caribbean follows the normal distribution. The mean number of passengers per cruise is 1,820 and the standard deviation is 120. 1. What percent of the cruises will have between 1,820 and 1,970 passengers? 2. What percent of the cruises will ha
1. The scores of the GRE exam are transformed so they have a mean of 500 and a standard deviation of 100. The scores are known to be normally distributed. What is the percentage of students that score below 750? 2. In 10 Bernoulli trials, 130 outcomes contain exactly three successes. Is this a true statement? 3.The pr
13. The quality assurance department for Pepsi Distributors, Inc. maintains meticulous records on the bottling line for two-liter Pepsi bottles. Records indicate that the process follows the normal probability distribution with a mean amount per bottle of 2.01 liters and a standard deviation of 0.025 liters. The foreman random
#2 There is some concern that exposure to gases used in anesthesiology may be harming the health of anesthesiologists. In one study of 525 Michigan nurse anesthesiologists, 10 reported a new malignancy other than skin cancer during the previous year. 2.1 What is the appropriate choice of distribution for the incidence of ne
#1 A botanist grows a large number of individually potted eggplants, all treated identically. After 30 days, the total leaf area of each plant was measured. The population distribution of the total leaf area was found to be normal with a mean of 800 cm2 and a standard deviation of 90 cm2. 1.1 What percentage of the plants w
Question (1) The price of shares of Bank of Florida at the end of trading each day for the last year followed the normal distribution. Assume there were 240 trading days in the year. The mean price was $42.00 per share and the standard deviation was $2.25 per share. a. What percent of the days was the price over $45.00? How
See the attached file. 16. For a normal population with mean=50 and standard deviation=10, what is the probability of obtaining a sample mean greater than 52 for each of the following sample sizes n=5 _________________% n=10 _________________% n=50 _________________% n=100 _________________% An assessment of optimism
1. Find the area under the Normal Distribution from the mean to a z-score of -2.07. 2. Find the z-score that corresponds to an area of 0.5557 under the Normal Distribution. 3. The average age of statistics students nationwide is 22. The standard deviation is 2.5 years. Assume the age is a normally distributed variable
1. Given that z is a standard normal random variable, compute the following probabilities. a. P(-1≤z≤0) b. P(-1.5≤z≤0) c. P(-2<z<0) d. P(-2.5≤z≤0) e. P(-3≤z≤0) 2. Given that z is a standard normal random variable, compute the following probabilities. a. P(0≤z≤.83) b. P(-1.57≤z≤0) c. P(z>44) d