Standard deviation of the sample - normal distribution, Basic Statistics

Imagine that a sample of 400 rental units shows that (i) the distribution of rents paid per month is not described by a normal distribution,

(ii) that the mean rent of the sample is $755, and (iii) the standard deviation of the sample is $100.

a) Without seeing the distribution, can you calculate the probability that the rent of a randomly selected unit will be greater than $800? If yes, calculate the probability; if no, explain.

b) Without seeing the distribution, can you calculate the probability that the mean rent of another sample of 400 units will be greater than $800? If yes, calculate the probability; if no, explain.

c) Why is the answer to (b) only an estimate? (What two numbers about the entire population are you not sure of?)

Posted Date: 3/30/2013 5:50:04 AM | Location : United States







Related Discussions:- Standard deviation of the sample - normal distribution, Assignment Help, Ask Question on Standard deviation of the sample - normal distribution, Get Answer, Expert's Help, Standard deviation of the sample - normal distribution Discussions

Write discussion on Standard deviation of the sample - normal distribution
Your posts are moderated
Related Questions
An individual has $ 100 initially. He repeatedly plays a game of chance in which he earns $ 100 with probability 0.8 or loses $ 100 with probability 0.2. The stops playing at the f

Check register The text or document used to evidence pertinent details relating to expenditure/expense vouchers & coding for each ensure issued,


Assignments due 9/14/2012 Need pricing

Define Allocate To split a lump-sum appropriation into parts that are specific for expenses by particular government models and/or for particular requirements, actions, or things.

Give a brief discussion of the existing traditional method of absorbing overheads

Definition of statistics according to Prof. Ya lu chan

Manchester Custom Fabricating Company uses a job order system. At the beginning of May, Manchester had two jobs in process, Job #22 (DM = $600 and DL = $780), and Job #23 (DM = $75

what is the difference between histogram and historigram

example of data