Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Statistics and Probability Expert

Assuming the population has an asymmetrical/right skewed shape as the sample with population mean $510,000 and population standard deviation $145,000; calculate the probability that in a random sample of size 10, the mean of the sample will be greater than $700,000. You may assume a random sample was taken and the sample came from a big population. However, be sure to check the central limit theorem condition of a large sample size before completing this problem using one complete sentence. If this condition is not met, you cannot complete the problem.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M92562054
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question?


Related Questions in Statistics and Probability

An investor considers investing 10000 in the stock market

An investor considers investing $10,000 in the stock market. He believes that the probability is 0.30 that the economy will improve, 0.40 that it will stay the same, and 0.30 that it will deteriorate. Further, if the eco ...

Stock valuation gruber corp pays a constant 9 dividend on

Stock Valuation Gruber Corp. pays a constant $9 dividend on its stock. The company will maintain this dividend for the next 12 years and will then cease paying dividends forever. If the required return on this stock is 1 ...

When circuit boards used in the manufacture of compact disc

When circuit boards used in the manufacture of compact disc players are tested, the long  run percentage of defectives is 5%. Let X= the number of defective boards in random sample of size n=25, so X ~ Bin( 25, .05). a)  ...

The population standard deviation for the height of high

The population standard deviation for the height of high school basketball players is 2.3 inches. If we want to be 95% confident that the sample mean height is within 0.5 inch of the true population mean height, how many ...

A few years ago simon powell purchased a home for 250000

A few years ago, Simon Powell purchased a home for $250,000. Today, the home is worth $450,000. His remaining mortgage balance is $200,000. Assuming that Simon can borrow up to 70 percent of the market value, what is the ...

1 out-of-state tuition and fees at the top graduate

1. Out-of-state tuition and fees at the top graduate schools of business can be very expensive, but the starting salary and bonus paid to graduates from many of these schools can be substantial. The following data show t ...

A laboratory worker finds that the 3 of his blood samples

A laboratory worker finds that the 3% of his blood samples test positive for the HIV virus. In a random sample of 70 blood tests, what is the mean number that test positive for the HIV virus? (Round your answer to 1 deci ...

A running shoe company wants to sponsor the fastest 3 of

A running shoe company wants to sponsor the fastest 3% of runners. You know that in this race, the running times are normally distributed with a mean of 6.8 minutes and a standard deviation of 0.37 minutes. How fast woul ...

A standard 52-card deck of cards is shuffled and then a

A standard? 52-card deck of cards is shuffled and then a hand of 8 cards is dealt from the deck. How many different outcomes are possible that have exactly 3 ?pairs, and all other cards of different? ranks?

Answer as thourough as possibleconsider an airline whose

Answer as thourough as possible. Consider an airline whose bottom line is sensitive to volatile jet fuel prices. To reduce the volatility, management decides to use derivatives to hedge the cost of jet fuel. The risk man ...

  • 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