Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

Can you please make up your own normal distribution problem and find the area ( probability) between two independent variables. 2). Then obtain samples of size n from that population and find out the probability of a sample mean being less than some value. My examples follow.

1. A normally distributed population has a mean of 42 and a std dev of 5. Find P (40 < X < 45)

P (40

2. Now assume that samples of size 15 are obtained from that population and that a sample distribution is created. What is the probability that a sample mean would be less than 39? Remember that the mean is the best estimate of the sample mean. The std dev, however, of the new distribution is S/n^1/2 = 5/15^1/2 = 5/3.873 = 1.291.

P(x bar<39) = normdist(39,42,1.291,true) = .010

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M92842461
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Business Economics

Suppose that 1 of the employees of a certain company use

Suppose that 1% of the employees of a certain company use illegal drugs. This company performs random drug tests that return positive results 99% of the time if the person is a drug use. However, it also has a 2% false p ...

1 suppose that a big mac costs 579nbspin the us and chf 65

1. Suppose that a Big Mac costs $5.79 in the US, and CHF 6.5 in Switzerland. You are told that the exchange rate between $ and CHF is CHF=$0.5 From what you know about PPP theory and Law of One Price, the swiss franc is. ...

Tom works for a fruit company and found that the weights of

Tom works for a fruit company and found that the weights of pineapples are normally distributed with mean = 500 grams and standard deviation = 100 grams. a. If he randomly chooses 16 pineapples and measures their weights ...

The diet doctor claims that the average north american is

The diet doctor claims that the average North American is more than 20 pounds overweight. To test his claim, a random sample 30 Of north Americans was weighted, the difference between their actual weight and their ideal ...

Suppose demand and supply are given byqdxnbsp 14 - 05

Suppose demand and supply are given by: Q d x  = 14 - 0.5 P x  and Q s x  = .25 P x  - 1 a) Determine the equilibrium price and quantitiy. b) Suppose a $12 excise tax is imposed on the good. Determine the new equilibrium ...

What does it mean to have an 80 learning curve when time

What does it mean to have an 80% learning curve when time and units produced are used?

The number of phone calls that arrive at a phone exchange

The number of phone calls that arrive at a phone exchange is often modeled as a Poisson random variable. Assume that on average there are 7 calls per hour. Show all work. a)  Find the probability that there are exactly f ...

Problema new software package is being developed and tested

PROBLEM A new software package is being developed and tested to help analysts reduce the time required to design, develop, and implement a new information system. To evaluate the benefits of the new software package, a r ...

What is the relationship among high school rank act scores

What is the relationship among high school rank, ACT scores, time spent studying, a positive attitude toward school, and a successful collegiate experiences?

During a year of operation a firm collects 650000 in

During a year of operation, a firm collects $650000 in revenue and spends $250000 on labor expense, raw materials, rent, and utilities. The firm's owner has provided $350000 of her own money instead of investing the mone ...

  • 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