User Account

All Pages

Suppose the value of investment properties is normally

Assignment Help Basic Statistics
Reference no: EM13577122

Question 1:

Suppose the value of investment properties is normally distributed witha mean of $550,000 and a standard deviation of $70,000. An investment property is randomly selected.

(a) What is the probability that the investment property selected is worth less than $400,000?

(b) What is the probability that the investment property selected is worth between $450,000 and $600,000?

(c) What is the value of a particular investment property if only 10% of all investment properties are more valuable than this property?

(d) One investor has 20 properties. What is the probability that the total value of these properties is more than $15 million?

Question 2: A random sample of 25 customers at the checkout in a small local supermarket revealed that they had spent the following amounts in the supermarket ($):

25 45505963538054 1218272930
65501572437160355549 15 54

(a) Give a point estimate for the mean amount per customer spent at the supermarket.

(b) Give a 99% confidence interval estimate for the mean amount per customer spent at the supermarket.

Question 3:

A leading company chemically treats its product before packaging.The company monitors the weight of product per hour that each machine treats. A simple random sample of 25 one hour periods from one machine was taken. The results in kilos are shown below:

165911708419172184511753618598172531462417589166251105816633197181921918421

17976179381680318830201092115115139199331821618523

(a) Can the company conclude that the mean kilo of product treated in one hour by this machine is more than 15,000? Use a 5% level of significance.

(b) What assumptions must be made for the test to be valid?

Reference no: EM13577122

Questions Cloud

The companys manufacturing overhead costs for the year are : kunkel company makes two products and uses a conventional costing system in which a single plantwide predetermined
Compute the departmentu2019s equivalent units of production : the production department in a process manufacturing system completed 191500 units of product and transferred them to
The sample mean is 69000 with a sample standard deviation : a random sample of 16 google managers yields the following information on annual salaries. the sample mean is 69000
Performance products corporation makes two products : performance products corporation makes two products titanium rims and posts. data regarding the two products
Suppose the value of investment properties is normally : question 1suppose the value of investment properties is normally distributed witha mean of 550000 and a standard
Assuming that boys and girls are equally likely find the : gender of childrena. if a couple plans to have eight children find the probability that they are all od the same
When supermarket customers are offered free samples they : when supermarket customers are offered free samplesthey take them 60 of the time. when 317 customers are observed what
A quality control test has five equally likely outcomes - a : a quality control test has five equally likely outcomes - a b c d and e.a what is the probability of c occurring?b what
If one person from the office is chosen at random what is : an office has the following types of employees.femalemaleadministrative2021managerial1210operational4238if one person

Reviews

Write a Review

Basic Statistics Questions & Answers

  In a randomized trial who should be blinded to which

in a randomized trial who should be blinded to which treatment group the patient is assigned?1. the patient2. the

  Information about frequency tables

Which one of these statements concerning the creation of frequency tables for integer data is true? The procedure for creating them is the same as that for creating tables for qualitative data.

  In a biomedical research activity it was determined that

in a biomedical research activity it was determined that the survival time in weeks of an animal when subjected to a

  What is the lowest score that nandan can get

To get a C in history, Nandan must average 74 on four tests. Scores on the first three tests were 69, 74, and 65. What is the lowest score that Nandan can get on the last test and still receive a C?

  Trailers allocated by the deliveries

A haulage contractor has two loads to deliver to separate customers. He has 4 trailers of which 2 are new. If the trailers are randomly chosen for any particular delivery: (a) In how many ways can the trailers be allocated the deliveries?

  A university found that 30 of its students withdraw

a university found that 30 of its students withdraw without completing the introductory statistics course. assume

  Detailed explanation to regression equation

A professor obtains SAT scores and freshman grade point averages (GPAs) for a group of n=15 college students. The SAT scores have a mean of M=580 with SS=22,400, and the GPAs have a mean of 3.10 with SS=1.26, and SP=84.

  Mean alcohol expenditures for ucm students

Use Excel and the data to test whether the mean alcohol expenditures for UCM students is equal to that of SBU students using a 1 % level of significance.

  Academic approach to factoring polynomials

Factor the polynomial completely. Factor each completely given that the binomial following it is a factor of the polynomial.

  1an inventor claims that a device increases gas mileage by

1.an inventor claims that a device increases gas mileage by 4. a test of the device was done by randomly selecting 10

  Does southside qualify for employment assistance program

Does the Southside qualify for the employment assistance program and provide the city council with a recommended course of action based on this result.

  Determine critical region and critical values for z

Determine the critical region and critical values for z that would be used to test the null hypothesis at the given level of significance, as described in each of the following:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd