Share
Explore BrainMass

Normal Distribution

Mean or Median statistics

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 ______

Probability Simulation and probability plot

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

Probability distribution and confidence level questions

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.

Options Pricing

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

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.

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.

Project Management, Queuing, and Simulation

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

Statistics Concepts: Cases and Observations

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

Normal random variable and probability

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

Sampling and Standard Error

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

Statistics on Skin Cancer Malignancies

#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

Statistics - Normal Distribution and Probability

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

Probability of normal distribution problem

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

Standard normal distribution used to compute probabilities

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

Mean and standard deviation

The following table displays information on the abortion rate- the number of abortions per 1,000 women- for each U.S. state and the District of Columbia in 2000. a. What are the mean and the standard deviation for the abortion rate for all states? b. Using the information from (a), how many states fall more than 1 standard dev

Empirical Rule and Chebychev Inequality

If Chebychev Inequality gives the lower bound for probability. For the present problem the lower bound for the probability is 0.75 and actual probability is 0.87. There is no contradiction between empirical rule and Chebychev Inequality Given percentage (87%), does the empirical rule apply? What does the Empirical Rule s

Equations Rewritten

Give a brief description of the variable and whether the scale of measurement is nominal, ordinal, interval, or ratio, and why. The Measurement Principles Nominal : People or objects with the same scale value are the same on some attribute. The values of the scale have no 'numeric' meaning in the way that you usually think

Sample Mean

The mean annual salary for employees at Company X is $78,000. If we assume a standard deviation of $12,000, what is the sampling distribution of the sample mean for samples of size 121?

Normal Distribution: sample mean, standard error of mean, probability

1. A population of unknown shape has a mean of 75. you select a sample of 40. the standard deviation of the sample is 5. What is the probability that the sample mean is between 76 and 77? a. 0.3980 b. 0.8905 c. 0.0081 d. 0.3943 2. a population has a mean of 50 and a standard deviation of 12. FOr samples of size 9, sam

Calculations based on Normal distribution such as probability in an interval

1 The distribution of purchase amounts of customers of a popular retail store is normal with a mean of $25 and a standard deviation of $8. a. What percentage of customers spends less than $35? b. What percentage of customers spends between $15 and $35? c. Find the dollar amount such that 80% of customers spend at least t

Normal Distribution

Suppose that IQ scores in one region are normally distributed with a standard deviation of 16. Suppose also that exactly 55% of the individuals from this region have IQ scores of greater than 100 (and that 45% do not). What is the mean IQ score for this region? Carry your intermediate computations to at least four decimal plac

Probability of normal distribution

21. A person must score in the upper 2% of the population on an IQ test to qualify for membership in Mensa, the international high-IQ society. If IQ scores are normally distributed with a mean of 100 and a standard deviation of 15, what score must a person have to qualify for Mensa? 23. The time to complete a final examinat

Probability Distributions of normal distribution

3. Delta airlines quotes a flight time of 2 hours, 5 minutes for its flights from Cincinnati to Tampa. Suppose we believe that actual flight times are uniformly distributed between 2 hours and 2 hours, 20 minutes. A. Show the graph of the probability density function for flight time B. What is the probability that the flight

Probability and Sample Mean

The lifetime of a certain brand of batteries are known to be normally distributed with a mean of 1600 hours and a standard deviation of 400 hours. A random sample of 64 of these batteries is taken. What is the probability that the sample mean lifetime is more than 1500 hours?

Statistics : Sampling Distributions and Sample Means

A random sample of size 25 is taken from a normal population having a mean of 80 and a standard deviation of 5. A second random sample of size 36 is taken from a different normal population having a mean of 75 and a standard deviation of 3. Find the probability that the sample mean computed from the 25 measurements will exceed

Inverse Normal Distribution

SAT scores have a mean 500 and a standard deviation of 100 ACT scores have a mean of 18 and a standard deviation of 6. a. If a school accepts the top 10% what is the minimum ACT score and the minimum SAT score. b. If a school accepts the top 20% what is the minimum ACT and SAT score. c.If a school accepts the top 60% wh

Calculation of probability based on normal distribution

Please show all work such as formula commands. The amount of money that a family of four will spend at Kings Island, including the food and souvenirs, is $130 with a standard deviation of $12. Assume that this distribution is normal. 1. Find the probability that a particular family of four selected at random spends between