Author Question: Assume that house prices in a neighborhood are normally distributed with a standard deviation of ... (Read 36 times)

danielfitts88

  • Hero Member
  • *****
  • Posts: 535
Assume that house prices in a neighborhood are normally distributed with a standard deviation of 20,000. A random sample of 16 observations is taken. What is the probability that the sample mean differs from the population mean by more than 5,000?
 
  What will be an ideal response?

Question 2

You were told that the amount of time lapsed between consecutive trades on the New York Stock Exchange followed a normal distribution with a mean of 15 seconds. You were also told that the probability that the time lapsed between two consecutive trades to fall between 16 to 17 seconds was 13. The probability that the time lapsed between two consecutive trades would fall below 13 seconds was 7. What is the probability that the time lapsed between two consecutive trades will be longer than 17 seconds?
 
  What will be an ideal response?



jjorrostieta

  • Sr. Member
  • ****
  • Posts: 298
Answer to Question 1

0.3173 using Excel or 0.3174

Answer to Question 2

7 or 0.07



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

In 2010, opiate painkllers, such as morphine, OxyContin®, and Vicodin®, were tied to almost 60% of drug overdose deaths.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

For a complete list of videos, visit our video library