MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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Estimation
A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.
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The average price of a college math textbook is $161 and the standard deviation is $27. Suppose that 12 textbooks are randomly chosen. Round all answers to 4 decimal places where possible.

  1. What is the distribution of ¯xx¯? ¯xx¯ ~ N(,)
  2. For the group of 12, find the probability that the average price is between $163 and $169. 
  3. Find the first quartile for the average textbook price for this sample size. $ (round to the nearest cent)
  4. For part b), is the assumption that the distribution is normal necessary? NoYes
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