Question

In: Statistics and Probability

According to a research​ institution, the average hotel price in a certain year was ​$91.85. Assume...

According to a research​ institution, the average hotel price in a certain year was ​$91.85. Assume the population standard deviation is ​$18.00 and that a random sample of 41 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. sigma Subscript x overbarequals​$ nothing ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$93​? Upper P left parenthesis x overbar less than $ 93 right parenthesisequals nothing ​(Round to four decimal places as​ needed.) c. What is the probability that the sample mean will be more than ​$96​? Upper P left parenthesis x overbar greater than $ 96 right parenthesisequals nothing ​(Round to four decimal places as​ needed.) d. What is the probability that the sample mean will be between ​$91 and ​$92​? Upper P left parenthesis $ 91 less than or equals x overbar less than or equals $ 92 right parenthesisequals nothing ​(Round to four decimal places as​ needed.) Enter your answer in each of the answer boxes.

Solutions

Expert Solution

-------------------------------------------------------------------------------------------------------------

-------------------------------------------------------------------------------------------------------------


Related Solutions

According to a research​ institution, the average hotel price in a certain year was ​$99.07. Assume...
According to a research​ institution, the average hotel price in a certain year was ​$99.07. Assume the population standard deviation is ​$20.00 and that a random sample of 31 hotels was selected. Complete part d below. d. What is the probability that the sample mean will be between ​$97 and ​$99​? _______​(Round to four decimal places as​ needed.)
According to a research​ institution, the average hotel price in a certain year was ​$107.64 ....
According to a research​ institution, the average hotel price in a certain year was ​$107.64 . Assume the population standard deviation is ​$20.00 and that a random sample of 46 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. sigma Subscript x overbar equals​$nothing ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$109 ​? Upper P left parenthesis x overbar...
According to a research​ institution, the average hotel price in a certain year was ​$95.82 ....
According to a research​ institution, the average hotel price in a certain year was ​$95.82 . Assume the population standard deviation is ​$18.00 and that a random sample of 36 hotels was selected. Complete parts a through d below. a. Calculate the standard error of the mean. sigma Subscript x overbar equals​$nothing ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less than ​$98 ​? Upper P left parenthesis x overbar...
AS According to a research​ institution, men spent an average of ​$136.78 on​ Valentine's Day gifts...
AS According to a research​ institution, men spent an average of ​$136.78 on​ Valentine's Day gifts in 2009. Assume the standard deviation for this population is ​$45 and that it is normally distributed. A random sample of 15 men who celebrate​ Valentine's Day was selected. Complete A-E a. Calculate the standard error of the mean. b. What is the probability that the sample mean will be less than ​$130? c. What is the probability that the sample mean will be...
According to a research​ institution, men spent an average of $132.69 on​ Valentine's Day gifts in...
According to a research​ institution, men spent an average of $132.69 on​ Valentine's Day gifts in 2009. Assume the standard deviation for this population is $45 and that it is normally distributed. A random sample of 10 men who celebrate​ Valentine's Day was selected. Complete parts a through e. a. Calculate the standard error of the mean. sigma Subscript x σx= ​(Round to two decimal places as​ needed.) b. What is the probability that the sample mean will be less...
The average price of a television on a certain Web site is ​$840. Assume the price...
The average price of a television on a certain Web site is ​$840. Assume the price of these televisions follows the normal distribution with a standard deviation of $160. Complete parts a through d below. a. What is the probability that a randomly selected television from the site sells for less than ​$700? ​(Round to four decimal places as​ needed.) b. What is the probability that a randomly selected television from the site sells for between ​$400 and ​$500? ​(Round...
According to the research, 44 % of homes sold in a certain month and year were...
According to the research, 44 % of homes sold in a certain month and year were purchased by first-time buyers. A random sample of 195 people who just purchased homes is selected. Complete parts a through e below. a. Calculate the standard error of the proportion (Round to four decimal places as needed.) b. What is the probability that less than 91 of them are first-time buyers? (Round to four decimal places as needed.) c. What is the probability that...
According to the​ research, 43 ​% of homes sold in a certain month and year were...
According to the​ research, 43 ​% of homes sold in a certain month and year were purchased by​ first-time buyers. A random sample of 185 people who just purchased homes is selected. Complete parts a through e below. a. Calculate the standard error of the proportion. =0.0364 ​(Round to four decimal places as​ needed.) What is the probability that more than 78 of them are​ first-time buyers? ​P(More than 78 of them are​ first-time ​buyers)______ ​(Round to four decimal places...
Assume the average price available on eBay for a certain Broadway show is $100.00. Then the...
Assume the average price available on eBay for a certain Broadway show is $100.00. Then the New York Times publishes a very favorable article about the show, and the number of people searching eBay for a ticket to this show increases dramatically. However, because the show is so "hot," there is no increase in the number of sellers on eBay. Assume we are not in a COVID 19 world, so the theatres are still open. What will happen in the...
a) In order to determine the average price of hotel rooms in Atlanta, a sample of...
a) In order to determine the average price of hotel rooms in Atlanta, a sample of 61 hotels were selected. It was determined that the average price of the rooms in the sample was $111.9. The population standard deviation is known to be $19. We would like to test whether or not the average room price is significantly different from $110. Compute the test statistic. b) In order to determine the average price of hotel rooms in Atlanta, a sample...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT