IQ is normally distributed with a mean of 100 and a standard deviation of 15.
a) Suppose one individual is randomly chosen. Find the probability that this person has an IQ greater than 95. Write your answer in percent form. Round to the nearest tenth of a percent. P P (IQ greater than 95) = %
b) Suppose one individual is randomly chosen. Find the probability that this person has an IQ less than 125. Write your answer in percent form. Round to the nearest tenth of a percent. P P (IQ less than 125) = %
c) In a sample of 600 people, how many people would have an IQ less than 110? people d) In a sample of 600 people, how many people would have an IQ greater than 140? people
In: Statistics and Probability
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An investment is expected to earn you $100 at the beginning of each quarter for the next 4 years starting today. If the appropriate discount rate is 8.0%, how much is this investment worth today? Round to the nearest cent. (this is an annuity due)
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Pat went into a bank to cash a check that was for less than $100. The clerk gave Pat bills and coins. Counting the handout, Pat noticed that the clerk had made a mistake, exchanging the number of dollars for the number of cents, and vice versa. Then Pat dropped a nickel (5 cents) on the floor. Surprisingly, the remaining amount (that is, without the nickel) was exactly twice the correct value of the check. How much was the check for? Hint: compute the value of the check as 100x+y, where x is the dollar amount and y is the penny amount, both integers.
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IQ scores are standardized such that the population of scores has a mean of 100 and a variance of 225. Assuming IQ scores have a normal distribution, what proportion of scores will fall below 80? What proportion will fall below 75?
What values occur in the top 9% of the distribution? What values occur in the bottom 9% of the distribution?
In: Statistics and Probability
A) An investment will pay $100 at the end of each of the next 3 years, $400 at the end of Year 4, $600 at the end of Year 5, and $800 at the end of Year 6. If other investments of equal risk earn 5% annually, what is its present value? Round your answer to the nearest cent.
B) What is its future value? Round your answer to the nearest cent.
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Suppose that the IQ of adults is normally distributed with a mean of 100 and standard deviation of 15.
(a) What IQ score distinguishes the highest 10%?
(b) What is the probability that a randomly selected person has an IQ score between 91 and 118?
(c) Suppose people with IQ scores above 125 are eligible to join a high-IQ club. Show that approximately 4.78% of people have an IQ score high enough to be admitted to this particular club.
(d) Let X be the number of people in a random sample of 25 who have an IQ score high enough to join the high-IQ club. What probability distribution does X follow? Justify your answer.
(e) Using the probability distribution from part (d), find the probability that at least 2 people in the random sample of 25 have IQ scores high enough to join the high-IQ club. (f) [3 marks] Let L be the amount of time (in minutes) it takes a randomly selected applicant to complete an IQ test. Suppose L follows a uniform distribution from 30 to 60. What is the probability that the applicant will finish the test in less than 45 minutes?
In: Statistics and Probability
There was an SRS of 100 flights on a large airline (airline 1)
that showed that 64 of the flights were on time. An SRS of 100
flights of another large airline (airline 2) showed that 80 of the
flights were on time. Let p1 and p2 be the
proportion of all flights that are on time for these two
airlines.
What is a 95% confidence interval for the difference
p1-p2?
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(-.222, -.098) |
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(-.263, -.057) |
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|
(-.218, -.102) |
|
|
(-.283, -.038) |
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|
(.098, .222) |
In: Statistics and Probability