Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

A recent article in USA Today discussed prices for the 200 brand-name drugs most commonly used by Americans over age 50. Atrovent, a treatment for lung conditions such as emphysema, was one of the drugs. The file entitled Drug$ contains daily cost data similar to those obtained in the research.

a. Produce a relative frequency histogram for these data. Does it seem plausible the data were sampled from a population that was normally distributed?

b. Compute the mean and standard deviation for the sample data in the file Drug$.

c. Assuming the sample came from a normally distributed population and the sample standard deviation is a good approximation for the population standard deviation, determine the probability that a randomly chosen transaction would yield a price of $2.12 or smaller even though the population mean was $2.51.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M91676833

Have any Question?


Related Questions in Statistics and Probability

Assume that when adults with smartphones are randomly

Assume that when adults with smartphones are randomly? selected, 42?% use them in meetings or classes. If 7 adult smartphone users are randomly? selected, find the probability that at least 5 of them use their smartphone ...

A travel weekly international transport association survey

A Travel Weekly International Transport Association survey asked business travelers about the purpose for their most recent business trip. 19% responded that it was for an internal company visit. Suppose 950 business tra ...

Based on labornbspstatisticsnbsp12 nbspof workers in a

Based on labor? statistics, 12 % of workers in a particular profession are male. Complete parts a through e below based on a random sample of 8 workers in this profession. a.  What is the probability that exactly one wor ...

1nbspis the magnitude of an earthquake related to the depth

1) Is the magnitude of an earthquake related to the depth below the surface at which the quake occurs? Let  x  be the magnitude of an earthquake (on the Richter scale), and let  y  be the depth (in kilometers) of the qua ...

The following are amounts of time minutes spent on hygiene

The following are amounts of time (minutes) spent on hygiene and grooming in the morning by survey respondents (based on data from an SCA survey). 15, 16, 18, 25, 26, 30, 32, 41, 45, 55, 63. Does the number 63 appear unu ...

Ganad and equity risk premiumsnbspmarianbspgonzalez ganados

Ganad and Equity Risk Premiums.  Maria? Gonzalez, Ganado's Chief Financial? Officer, estimates the? risk-free rate to be 3.70 %, the? company's credit risk premium is 4.00%, the domestic beta is estimated at 0.93?, the i ...

Assumes the following probability pcustomer make a purchase

Assumes the following probability" P(customer make a purchase) = 0.300 P(Customer does not make a purchase) = 1-0.300 Compute the P(1purchase) and enter your answer in 3 decimal places.

A doctor wants to predict the birth weight of a newborn

A doctor wants to predict the birth weight of a newborn baby (measured in grams) based on the gestational age (measured in weeks) at the time of birth. The doctor uses 11 data points, with births ranging from 29 weeks to ...

Mimi plans make a random guess at 10 true-or-false

Mimi plans make a random guess at 10 true-or-false questions. Answer the following questions: (a) Let X be the number of correct answers Mimi gets. As we know, the distribution of X is a binomial probability distribution ...

You invested 7900 one year ago today it is worth 865490

You invested $7,900 one year ago. Today it is worth $8,654.90. What annual rate of interest did you earn? [use annual compounding]

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As