Question
In: Statistics and Probability
1. Suppose the returns of a particular group of mutual funds are normally distributed with a...
1. Suppose the returns of a particular group of mutual funds are normally distributed with a mean of 9.7% and a standard deviation of 3.8%. If the manager of a particular fund wants to be sure that his fund is NOT in the bottom 25% of funds with the lowest return, what return must his fund have? (please round your answer to 2 decimal places).
2. Suppose the following data show the prices of 4 cars with similar characteristics that sold at a recent auction (in thousands of dollars): 6.6, 7.3, 13.7, 6. Calculate the standard deviation of the sample of selling prices. (please express your answer using 2 decimal places).
3. Suppose the profit the Honda dealership makes on the next 5 Accords it sells are: 433, 1,002, 752, 676, 1,322. What is the average profit on these cars?
4. In a sample of 84 people who have had strokes, the average cholesterol level was 254 with a standard deviation of 49.3. In order to test the hypothesis (at the 10% level of significance) that the average cholesterol level of people who have had strokes was at least 240, what is the critical value? (please round your answer to 2 decimal places)
Solutions
orchestra answered 3 years agoRelated Solutions
The annual returns from a particular mutual fund are believed to be normally distributed. The following...
The annual returns from a particular mutual fund are believed to
be normally distributed. The following table lists the annual
returns for this fund over a 20-year period.
Year
Return (%)
Year
Return (%)
1
6.2
11
5.4
2
11.3
12
26.0
3
16.1
13
13.5
4
16.9
14
24.2
5
9.8
15
–1.5
6
18.3
16
1.4
7
11.2
17
15.7
8
–12.1
18
11.8
9
19.2
19
1.9
10
17.6
20
17.8
a) Determine the mean and standard...
The quarterly returns for a group of 59 mutual funds with a mean of 3.8% and...
The quarterly returns for a group of 59 mutual funds with a mean
of 3.8% and a standard deviation of 6.9%
can be modeled by a Normal model. Based on the model
N(0.038,0.069), what are the cutoff values for the
a) highest 10% of these funds?
b) lowest 30%?
c) middle 20%?
d) highest 70%?
The quarterly returns for a group of 74 mutual funds with a mean of 1.1% and...
The quarterly returns for a group of 74 mutual funds with a mean
of 1.1% and a standard deviation of 4.9% can be modeled by a
Normal model. Based on the model N(0.011,0.049), what are the
cutoff values for the a) highest 20% of these funds? b) lowest
40%? c) middle 80%? d) highest 60%?
The quarterly returns for a group of 58 mutual funds with a mean of 3.4% and...
The quarterly returns for a group of 58 mutual funds with a mean
of 3.4% and a standard deviation of 4.3% can be modeled by a
Normal model. From these funds, find the cutoff return value(s)
that would separate the
a) highest 30%.
b) lowest 40%.
c) middle 60%.
d) highest 60%.
a) Select the correct choice and fill in any answer boxes in
your choice below. (Round to two decimal places as needed.)
A. nothing%less thanxless than nothing%...
The quarterly returns for a group of 53 mutual funds with a mean of 2.1% and...
The quarterly returns for a group of 53 mutual funds with a mean
of 2.1% and a standard deviation of 5.1% can be modeled by a
Normal model. Based on the model N(0.021,0.051), what are the
cutoff values for the
a) highest 10% of these funds?
b) lowest 20%?
c) middle 40%?
d) highest 80%?
Suppose that scores on a particular test are normally distributed with a mean of 140 and...
Suppose that scores on a particular test are normally
distributed with a mean of 140 and a standard deviation of 16. What
is the minimum score needed to be in the top 20% of the scores on
the test? Carry your intermediate computations to at least four
decimal places, and round your answer to one decimal place.
Suppose that the returns on an investment are normally distributed with an expected return of 8%...
Suppose that the returns on an investment are normally
distributed with an expected return of 8% and standard deviation of
4%. What is the likelihood of making a negative return? (Hint: the
area under a curve for 1 std dev is 34.13%, 2 std dev is 47.73% and
3 std dev is 49.87%).
A. 47.73%
B. 34.13%
C. 15.87%
D. 2.27%
Suppose the life of a particular brand of calculator battery is approximately normally distributed with a...
Suppose the life of a particular brand of calculator battery is
approximately normally distributed with a mean of 75 hours and a
standard deviation of 9 hours.
a. What is the probability that a single battery randomly
selected from the population will have a life between 70 and 80
hours? P(70 ≤ x ≤80)equals=0.4215 (Round to four decimal places
as needed.)
b. What is the probability that 4 randomly sampled batteries
from the population will have a sample mean life...
Suppose the scores of architects on a particular creativity tests are normally distributed with a mean...
Suppose the scores of architects on a particular creativity
tests are normally distributed with a mean of 300 and a standard
deviation of 25. Using the normal curve table,
What percentage of architects score below 290?
Hint: You need to calculate the Z-score and then find
the corresponding value on the normal curve
table.
What percentage of architects score above 330?
What score does an architect need on the creativity test to be
in the top 10%? (Remember, after you...
Suppose the life of a particular brand of calculator battery is approximately normally distributed with a...
Suppose the life of a particular brand of calculator battery is
approximately normally distributed with a mean of 80 hours and a
standard deviation of 9 hours. Complete parts a through c.
a. What is the probability that a single battery randomly
selected from the population will have a life between 7575 and 85
hours?
b. What is the probability that 99 randomly sampled batteries
from the population will have a sample mean life of between 75 and
85 hours?...
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