Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Probability using normal distribution.

Information from the American Institute of Insurance indicates the mean amount of life insurance per household in the United States is $110,000. This distribution is positively skewed. The standard deviation of the population is not known.

a. A random sample of 50 households revealed a mean of $112,000 and a standard deviation of $40,000. What is the standard error of the mean?

b. assume that you selected 50 samples of households. What is the expected shape of the distribution of the sample mean?

c. What is the chance of selecting a sample with a mean of at least $112,000?

d. What is the probability of selecting a sample with a mean of more than $100,000?

e. Find the probability of selecting a sample with a mean of more than $100,000 but less than $112,000.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M920666

Have any Question? 


Related Questions in Statistics and Probability

Assignment chapter 1 to 7answer the following questions121

Assignment Chapter 1 to 7 Answer the following questions: 1.21. Explain why it is necessary to consider variability around the mean or nominal dimension as a measure of quality. PAGE 47 1.15. What is a Six Sigma process? ...

The mean salary offered to students who are graduating from

The mean salary offered to students who are graduating from Coastal State University this year is $24,230, with a standard deviation of $3678. A random sample of 85 Coastal State students graduating this year has been se ...

The probability that a pharmaceutical firm will

The probability that a pharmaceutical firm will successfully develop a new drug that will return $750 million dollars is 0.14. If the research is unsuccessful, the company incurs a cost of $100 million dollars. What is t ...

The input to a linear filter is a random process with the

The input to a linear filter is a random process with the following autocorrelation function: The impulse response of the filter is of the same form and is Determine the autocorrelation function of the filter output for

Letnbspnbspbe a sequence of five independent discrete

Let   be a sequence of five independent discrete random variables, each with a distribution described by: (a) Find the probability mass function of the median (third largest) of these five samples. b) For this random var ...

1 the director of golf for a local course wants to study

1. The Director of Golf for a local course wants to study the number of rounds played by members on weekdays. He gathered the sample information shown below for 520 rounds. At the .05 significance level, is there a diffe ...

Q1 state the complement of each of the following setsa

Q1. State the complement of each of the following sets: (a) Engineers with less than 36 months of full-time employment. (b) Samples of cement blocks with compressive strength less than 6000 kilograms per square centimete ...

Find an expression for the even moments of a rayleigh

Find an expression for the even moments of a Rayleigh random variable. That is, find  for any positive integer   if the random variable, Y, has a PDF given by

I deal myself 13 cards for a standard 52-card deck find the

I deal myself 13 cards for a standard 52-card deck. Find the probabilities of each of the following events: (a) exactly one heart appears in my hand (of 13 cards); (b) at least 7 cards from a single suit appear in my han ...

Assignment bottling company case studyimagine you are a

Assignment: Bottling Company Case Study Imagine you are a manager at a major bottling company. Customers have begun to complain that the bottles of the brand of soda produced in your company contain less than the adverti ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate