MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
Bartleby Related Questions Icon

Related questions

bartleby

Concept explainers

Question
### Understanding the Distribution of Prices for HD Televisions

The graph below illustrates a normal distribution for the prices paid for a particular model of HD television. The mean price paid is $1000 and the standard deviation is $55.

#### Normal Distribution Graph

![Distribution of Prices](image-url-here) 

**Description:**
The graph shows a bell-shaped curve, which is characteristic of a normal distribution. The x-axis represents the distribution of prices ranging from $835 to $1165, while the peak of the curve represents the mean price of $1000. 

**Key Points on the Graph:**
- **835**: Represents the lower bound of the data range on the x-axis.
- **890**: A point below the mean price by 2 standard deviations.
- **945**: A point below the mean price by 1 standard deviation.
- **1000**: The mean price paid.
- **1055**: A point above the mean price by 1 standard deviation.
- **1110**: A point above the mean price by 2 standard deviations.
- **1165**: Represents the upper bound of the data range on the x-axis.

#### Questions

1. **What is the approximate percentage of buyers who paid between $890 and $1000?**
   
   _______ %

2. **What is the approximate percentage of buyers who paid between $945 and $1055?**
   
   _______ %

3. **What is the approximate percentage of buyers who paid between $835 and $1000?**
   
   _______ %

4. **What is the approximate percentage of buyers who paid more than $1110?**
   
   _______ %

5. **What is the approximate percentage of buyers who paid less than $835?**
   
   _______ %

6. **What is the approximate percentage of buyers who paid between $1000 and $1055?**
   
   _______ %

This graphical representation is crucial for understanding how prices vary around the mean, showcasing the likelihood and spread of different prices within the dataset. By analyzing this distribution, we can answer the questions above, providing insights into the purchasing behaviors and price trends for this HD television model.
expand button
Transcribed Image Text:### Understanding the Distribution of Prices for HD Televisions The graph below illustrates a normal distribution for the prices paid for a particular model of HD television. The mean price paid is $1000 and the standard deviation is $55. #### Normal Distribution Graph ![Distribution of Prices](image-url-here) **Description:** The graph shows a bell-shaped curve, which is characteristic of a normal distribution. The x-axis represents the distribution of prices ranging from $835 to $1165, while the peak of the curve represents the mean price of $1000. **Key Points on the Graph:** - **835**: Represents the lower bound of the data range on the x-axis. - **890**: A point below the mean price by 2 standard deviations. - **945**: A point below the mean price by 1 standard deviation. - **1000**: The mean price paid. - **1055**: A point above the mean price by 1 standard deviation. - **1110**: A point above the mean price by 2 standard deviations. - **1165**: Represents the upper bound of the data range on the x-axis. #### Questions 1. **What is the approximate percentage of buyers who paid between $890 and $1000?** _______ % 2. **What is the approximate percentage of buyers who paid between $945 and $1055?** _______ % 3. **What is the approximate percentage of buyers who paid between $835 and $1000?** _______ % 4. **What is the approximate percentage of buyers who paid more than $1110?** _______ % 5. **What is the approximate percentage of buyers who paid less than $835?** _______ % 6. **What is the approximate percentage of buyers who paid between $1000 and $1055?** _______ % This graphical representation is crucial for understanding how prices vary around the mean, showcasing the likelihood and spread of different prices within the dataset. By analyzing this distribution, we can answer the questions above, providing insights into the purchasing behaviors and price trends for this HD television model.
Expert Solution
Check Mark
Knowledge Booster
Background pattern image
Statistics
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Text book image
MATLAB: An Introduction with Applications
Statistics
ISBN:9781119256830
Author:Amos Gilat
Publisher:John Wiley & Sons Inc
Text book image
Probability and Statistics for Engineering and th...
Statistics
ISBN:9781305251809
Author:Jay L. Devore
Publisher:Cengage Learning
Text book image
Statistics for The Behavioral Sciences (MindTap C...
Statistics
ISBN:9781305504912
Author:Frederick J Gravetter, Larry B. Wallnau
Publisher:Cengage Learning
Text book image
Elementary Statistics: Picturing the World (7th E...
Statistics
ISBN:9780134683416
Author:Ron Larson, Betsy Farber
Publisher:PEARSON
Text book image
The Basic Practice of Statistics
Statistics
ISBN:9781319042578
Author:David S. Moore, William I. Notz, Michael A. Fligner
Publisher:W. H. Freeman
Text book image
Introduction to the Practice of Statistics
Statistics
ISBN:9781319013387
Author:David S. Moore, George P. McCabe, Bruce A. Craig
Publisher:W. H. Freeman