Question

In: Statistics and Probability

Complete the following statements by typing your answers in the spaces provided.  If you are asked to...

Complete the following statements by typing your answers in the spaces provided.  If you are asked to determine the probabilities, state your answers to 4 decimal places.  If you are asked to determine a value of Y, state your answers to 2 or 3 decimal places.  Because you will be typing in your answers,  I cannot ask you to draw diagrams as I have done in my previously posted practice finals and solutions to examples, I suggest when you are working on your answers on scrap pieces of paper (or a print out of the exam sheets), draw the diagrams.  You are more likely to get the right answer if you use diagrams.  For each of these statements I am asking you fill in more than one blank so that I can give you part marks if your intermediate calculation is correct but your final calculation is wrong.   

When answering each of the following, the random variable Y is normally distributed with a mean of 65 and a standard deviation of 4.

  1. The value of z for being able to determine P(Y ≤ 60) is _____

The P(Y ≤ 60) is _____

  1. The 2 values of z for being able to determine P( 70 ≤ Y ≤ 73) are _____ and _____

The P( 70 ≤ Y ≤ 73) is _____

  1. The value of z for being able to determine P(Y ≥ 72) is _____

The P(Y ≥ 72) is _____

  1. The closest value of z for being able to determine the value of y such that 10% of the values Y are less

than that y is ______

                  The approximate value of y such that 10% of the values Y are less than that y is ______

Solutions

Expert Solution

Y~Normal (Mean=65, SD=4)

Z is the standard normal distribution ~Normal (Mean =0, SD=1)

Z= (Y-Mean(Y))/SD(Y)

a. So for the value of z we have,

P(Y≤ 60) = P( Z ≤ (60-65)/4) =P (Z ≤ -5/4) =P(Z≤ -1.25)

The value of z is -1.25.

Now, P(Y≤ 60) =P( Z ≤ -1.25) = 1- P(Z≤1.25)=1-0.8944 (From Normal table) =0.1056

b.So for the 2 values of z we have,

P(70≤Y≤73)= P(Y≤73) - P(Y≥70) = P ( Z ≤ (73-65)/4) - P(Z ≥ (70-65)/4) = P(Z ≤ 2) - P( Z ≥ 1.25)

The values of z are 2 and 1.25

Now, P(70≤Y≤73)= P(Z ≤ 2) - P(Z ≥ 1.25)= P(Z ≤ 2) - P(Z≤1.25) (By symmetry)=P(Z ≤ 2) - P(Z≤1.25) -1 =0.9772-0.8944(From normal table) =0.0828

c.So for the value of z we have,

P(Y≥ 72) = P( Z ≤ (72-65)/4) =P (Z ≥ 1.75)

The value of z is 1.75

Now, P(Y≥ 72) = P (Z ≥ 1.75) = 1- P(Z≤1.75)=1-0.9599(From Normal table) =0.0401

d. Now, we need to find the value of z for the value of y such that 10% of the values of Y are less than that of y

For finding this we need to find z from P(Y≤y)=0.10

i.e, P (Z≤ (y-65)/4) =0.10 ............(1)

i.e, P(Z≤z)=0.10.

From the normal table we need to find z for P(Z≤z)=0.10.

We find the corresponding z value is -1.28.

The closest value of z for being able to determine the value of y such that 10% of the values Y are less than that y is -1.28

Now ,

z= -1.28

=> (y-65)/4 = -1.28 [From 1]

=> y-65 = -5.12

=> y =65-5.12 =59.88

The approximate value of y such that 10% of the values Y are less than that y is 59.88


Related Solutions

Complete the following statements by typing your answers in the spaces provided.  If you are asked to...
Complete the following statements by typing your answers in the spaces provided.  If you are asked to determine the probabilities, state your answers to 4 decimal places.  If you are asked to determine a value of Z, state your answers to 2 or 3 decimal places.  Because you will be typing in your answers,  I cannot ask you to draw diagrams as I have done in my previously posted practice finals and solutions to examples, I suggest when you are working on your answers...
Complete the following statements by typing your answers in the spaces provided. If you are asked...
Complete the following statements by typing your answers in the spaces provided. If you are asked to determine the probabilities, state your answers to 4 decimal places. If you are asked to determine a value of Y, state your answers to 2 or 3 decimal places. Because you will be typing in your answers, I cannot ask you to draw diagrams as I have done in my previously posted practice finals and solutions to examples, I suggest when you are...
For each part of this question, complete the statement or statements by typing in your answers...
For each part of this question, complete the statement or statements by typing in your answers in the provided spaces: If the probabilities: that event A occurs is .55; that event B occurs is .60; and, that both A and B occur is .35, The probability (up to 4 decimal places if needed) that events A or B (or both) occur is ______ The probability (up to 4 decimal places if needed) that event B occurs given that A occurs...
Section B—DIRECTIONS: Complete Problems 1 and 2 by recording your answers in the spaces provided. Use...
Section B—DIRECTIONS: Complete Problems 1 and 2 by recording your answers in the spaces provided. Use the following tax rates and taxable wage bases: Employees’ and Employer’s OASDI—6.2% both on $132,900; HI—1.45% for employees and employers on the total wages paid. Employees’ Supplemental HI of 0.9% on wages in excess of $200,000 was not applicable in these problems.    During 20--, Amanda Hines, president of Dunne, Inc., was paid a semimonthly salary of $7,100. Determine the following amounts. OASDI HI...
Practice with the Expenditure-Output Model Complete the following. Write your answers in the green spaces. When...
Practice with the Expenditure-Output Model Complete the following. Write your answers in the green spaces. When you are finished, save your work and upload it to the appropriate folder in the Assignments section of D2L. Note: all of the following calculations are in $billions (e.g. $100 = $100 billion). Economists sometimes express their formulas in $billions to avoid writing out a large number of ‘0’s. In country X, potential GDP is $3,200. BENCHMARK CASE. Spending is guided by the following...
Solve each question and enter on your correct answers in the spaces provided at the Test...
Solve each question and enter on your correct answers in the spaces provided at the Test and Quizzes Section on the Sakai LMS platform. PROVIDE the rough work of your solutions by handwriting, scanning, converting it into pdf and uploading at the ASSIGNMENT SECTION of your Sakai. The file must be named with your Student’s Index Number. 1. If the ratio of the ages of Kissi and Esinam is 3:5 and that of Esinam and Lariba is 3:5 and the...
Complete the following statements about the crystallinity in polymers by choosing the right answers in the...
Complete the following statements about the crystallinity in polymers by choosing the right answers in the [box]. Most thermoset polymers are [amorphous/crystalline] . Some thermoplastic polymers are semi-crystalline, meaning they have both higher density  [amorphous/crystalline] regions and lower density  [amorphous/crystalline] regions. In many semi-crystalline polymers, the polymer chains fold into [lamellae/spherulite] structures which can be part of a larger  [lamellae/spherulite] structure which is formed around a nucleation site. In semi-crystalline polymers, the glass transition temperature is where there is an increase in the...
You are asked to develop a database for your city. Which of the following statements are appropriate?
You are asked to develop a database for your city. Which of the following statements are appropriate?You look for a database that offers transaction processing for municipal dataYour application should most likely be based on a general purpose database management system, and the meta data specific to your application will be stored in much the same way as the dataIf you can find a vendor for an application that is specific to your needs, such an application will likely have...
You are an analyst at Microsoft, and your boss has asked you to complete a ratio...
You are an analyst at Microsoft, and your boss has asked you to complete a ratio analysis for the firm’s competitors. Use the following information to write a complete ratio analysis for Microsoft’s competitors. Firm’s are identified by tickers below. Ratio MSFT IBM SAP AAPL Profit Margin ROE ROA Debt to Equity Current Ratio 28.31% 39.35% 9.44% 92.79% 3.12 10.97% 50.34% 6.64% 270.60% 1.29 16.53% 15.03% 8.36% 40.44% 1.59 22.72% 46.05% 10.89% 97.32% 1.30
"Einstein riddle" The riddle asked us to complete a table of answers in a way that...
"Einstein riddle" The riddle asked us to complete a table of answers in a way that ensured various constraints were satisfied. A "correct" answer to the riddle was a completed table that satisfied all the constraints provided. The table was 5 rows by 5 columns. For each row you could pick the order of 5 parameters - for example, the order of 5 different colours or 5 different car models. In this particular problem there were no duplicate assignments -...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT