Standard deviation of the sample - normal distribution, Basic Statistics

Assignment Help:

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?)


Related Discussions:- Standard deviation of the sample - normal distribution

Example, solving problem in skewness and kurtosis?

solving problem in skewness and kurtosis?

Discrete Standard Deviation, Discrete Standard Deviation For calculating s...

Discrete Standard Deviation For calculating standard deviation in discrete series any of the following methods may be applied (1) Actual mean method. (2) Assumed mean method. (

Who is APPROVING MANAGER , APPROVING MANAGER An individual within an agenc...

APPROVING MANAGER An individual within an agency who is responsible for assigning buy card custodians and developing buy card limits within the organization.

The owner of the finer diner submitted a proposal, The owner of the Finer D...

The owner of the Finer Diner submitted a proposal to you in hopes of selling the business to you. His asking price is $250,000. Your financial institution advises that your month

How would you go about choosing a random sample, Q. Suppose a study is bein...

Q. Suppose a study is being done and the population is the American public. How would you go about choosing a random sample population to phone for a survey? Solution: One w

Define tension and stress, Tension: When a sequence, place, cable or a man ...

Tension: When a sequence, place, cable or a man is presented tight, the ends of the sequence or place (or wire) pull on whatever systems are connected to them towards the sequence.

Standard deviation, how do i calculate standard deviation for a frequency d...

how do i calculate standard deviation for a frequency distribution

#titletime series, importance of time series in statistics

importance of time series in statistics

Write Your Message!

Captcha
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!

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