Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Bank Accounts: You work for business analytics department of large commercial bank, and you learn that the balances of the small-business accounts are distributed on log-scale according to normal distribution. You also learn that the lower and upper quartiles of balances are $500 and $50,000, respectively.  In following sub-problems you will end up inferring in small steps what a 95% range of the bank balances is.  (For ease of grading, employ the memorized rounded multipliers for normal quantiles, not the more exact values from the tables or calculators.) 

a) What are the lower and upper quartiles of log10-balances?

b) What are the mean and sd of log10-balances?

c) What is a 95% range of log10-balances?

d) What is a 95% range of the balances in $s? Express in English what the two boundaries mean.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M916752

Have any Question? 


Related Questions in Statistics and Probability

A researcher conducted an experiment to examine the effects

A researcher conducted an experiment to examine the effects of distracting noise on people's ability to solve anagrams (scrambled letters that can be unscrambled to make words). Participants worked on anagrams for 10 ...

A ski gondola carries skiers to the top of a mountain it

A ski gondola carries skiers to the top of a mountain. It bears a plaque stating that the maximum capacity is 14 people or 2324 lb. That capacity will be exceeded if 14 people have weights with a mean greater than 2324 l ...

Discuss the changes to european imperialism between the

Discuss the changes to European imperialism between the World Wars.

Manifest destiny was a powerful force in nineteenth century

"Manifest Destiny was a powerful force in nineteenth century America not only calling for the expansion of the nation physically but also for spreading its ideals to more parts of the world. In what ways was slavery both ...

You are at a magic show the magician has a coin and you as

You are at a magic show. The magician has a coin and you, as a member of the audience, do not know whether the coin has heads on both sides or heads on one side and tails on the other. The null hypothesis is that the coi ...

A family is relocating from st louis missouri to california

A family is relocating from St. Louis, Missouri, to California. Due to an increasing inventory of houses in St. Louis, it is taking longer than before to sell a house. The wife is concerned and wants to know when it is o ...

Although quasi-experimental designs are widely accepted in

Although quasi-experimental designs are widely accepted in behavioral science, some researchers are troubled by the fact that the evidence provided by quasiexperiments is seldom as conclusive as that provided by true exp ...

Two sets of chromium analyses were performed on water

Two sets of chromium analyses were performed on water samples from a stream that runs near a chromium plating plant:                  Before the spill                                After the spill Mean :           0.95 ...

1 prove that if v is the minimax representation of a

1. Prove that, if v is the minimax representation of a strategic-form game, then v must be superadditive. 2. Suppose that there are three firms producing the same product. Firm 1 is a small firm and can produce either ze ...

Answer the following questions showing all work1 using

Answer the following questions showing all work. 1. Using http://onlinestatbook.com/stat_sim/sampling_dist/index.html, select a population distribution that is NOT normal (i.e., heavily skewed, uniform, bimodal). Using t ...

  • 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

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro