Question
In: Statistics and Probability
2. The median of an income distribution is $30,000. The mean income is $35,000 and the...
2. The median of an income distribution is $30,000. The mean income is $35,000 and the standard deviation is $25,000. For each part, if possible compute the quantity, if not possible give your reason.
a) Is the distribution symmetric? Why or why not?
b) The probability that a randomly selected income being less than $35,000
c) The probability that a randomly selected income being less than $30,000
d) The probability that the average of 4 randomly selected incomes being between $30,000 and $40,000
e) The probability that the average of 100 randomly selected incomes being between $30,000 and $40,000.
Solutions
orchestra answered 1 year agoRelated Solutions
Which of the following is NOT a characteristic of the normal probability distribution? The mean, median,...
Which of the following is NOT a characteristic of the normal
probability distribution?
The mean, median, and mode are equal.
It is asymptotic, meaning the curve approaches, but never
touches, the x-axis.
It is symmetrical and bell-shaped.
It is completely described by its minimum value, a, and
its maximum value, b.
Which of the following is NOT a characteristic of the normal probability distribution? The mean, median,...
Which of the following is NOT a characteristic of the normal
probability distribution?
The mean, median, and mode are equal.
It is asymptotic, meaning the curve approaches, but never
touches, the x-axis.
It is symmetrical and bell-shaped.
It is completely described by its minimum value, a, and
its maximum value, b.
Make an ungrouped frequency distribution for Price/Sales. Use the frequency distribution to find the mean, median,...
Make an ungrouped frequency distribution for
Price/Sales. Use the frequency
distribution to find the mean, median, mode and standard
deviation for Price/Sales ratio. (Note the
boldface – must show and describe steps for how you USED the
frequency distribution to compute the statistics)
Price to Sales
(ratio)
0.8
0.4
0.2
1.1
1.2
0.4
0.4
0.1
0.3
0.6
0.3
0.2
0.1
0.2
0.7
0.2
0.2
0.7
0.1
0.3
0.7
0.6
0.1
0.1
0.3
0.5
0.5
0.5
0.4
0.8
0.6
0.2
0.5...
Find the mean, median, and mode for the scores in the following frequency distribution table: X...
Find the mean, median, and mode for the scores in the following
frequency distribution table:
X
f
5
2
4
5
3
2
2
3
1
0
0
2
The mean (to two decimal places) is , the median is
, and the mode is .
Based on the three values for central tendency, what is the most
likely shape for this distribution of scores?
The distribution is because the mean is
the median and the median is
the mode.
What is the sampling distribution of the median?
What is the sampling distribution of the median?
Mean , Median and Mode
The mean of 8,11,6,14,m and 13 is 11
a) Find the value of m.
b) Find the median and mode of given data set.
For the following distribution find the mean, median, mode, range and standard deviation: 13, 10, 16,...
For the following distribution find the mean, median, mode,
range and standard deviation:
13, 10, 16, 20, 10, 14, 13, 25
Find the average, median and mode income of the residents Find interquartile range Find the mean...
Find the average, median and mode income of the residents Find
interquartile range Find the mean deviation from the mean and
median
The following data on income of residents generated from County
X
Min
Max
No. of people
1000
2000
28
2000
3000
52
3000
4000
45
4000
5000
35
5000
6000
63
6000
7000
130
7000
8000
110
8000
9000
62
9000
10000
55
10000
11000
38
11000
12000
35
12000
13000
50
13000
14000
55
14000
15000
88...
4) What is the present value of receiving (the sum of) $30,000 next year, $35,000 in...
4) What is the present value of receiving (the sum of) $30,000
next year, $35,000 in two years, and $40,000 in three years if the
interest rate is 4%?
1. What is the mean and median? 2. what is the standard deviation? 3. what is...
1. What is the mean and median?
2. what is the standard deviation?
3. what is the minimum and maximum at a minimum?
Years
Weekend
Daily Tour Income
Daily Gross Revenue
Number of Tourists
1
Friday
3378
4838.95
432
1
Saturday
1198
3487.78
139
1
Sunday
3630
4371.3
467
2
Friday
4550
6486.48
546
2
Saturday
2467
3437.39
198
2
Sunday
3593
4571.43
452
3
Friday
898
2515.15
119
3
Saturday
2812
5462.11
342
3
Sunday
2650
5498.89
321
4...
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