MATLAB: An Introduction with Applications
6th Edition
ISBN: 9781119256830
Author: Amos Gilat
Publisher: John Wiley & Sons Inc
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The stock price for International Business Machines (IBM) historically has followed an approximately
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- A bank's loan officer rates applicants for credit. The ratings are normally distributed with a mean of 200 and a standard deviation of 50. If 64 applications are randomly selected, what is the probability that the mean credit rating of these 64 applicants will be between 205 and 275. (Round your answer to 4 decimal places.) (Calculator: http://statisticshelper.com/normal-distribution-calculator) A. 0.5011 B. 0.4113 C. 0.2119 D. 0.3664arrow_forwardBusiness Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is $133,000. Assume the standard deviation is $45,000. Suppose you take a simple random sample of 22 graduates. Round all answers to four decimal places if necessary. For a single randomly selected graduate, find the probability that her salary is between $136,209 and $142,906. For a simple random sample of 22 graduates, find the probability that the average salary is between $136,209 and $142,906. For part 2), is the assumption of normal necessary? No Yesarrow_forwardCody took his first physics exam and scored an 80. The population mean for this exam is 70, and the standard deviation is 5. What is the probability of selecting a person with a score greater than Cody’s?arrow_forward
- If you get a sneak peak at the salary list of your job and realize you are in the lowest bracket, which is the lowest 1%, what is your salary if you know that the mean salary is $48,000 and it has a standard deviation of $5500?arrow_forwardThe NJ Department of Health has reported the average life span of NJ residents is 81 years. If the standard deviation is σ = 4 years, what is the probability of a person living to at least 92 years of age?arrow_forwardAt night, John works occasionally as a waiter for his family's restaurant for which his monthly income is normally distributed with a mean of $1,579 and a standard deviation of $103. What is the probability that John will earn between $1,322 and $1,764 this month? (Keep 4 decimal places).arrow_forward
- Suppose a life insurance company sells a $170,000 1-year term life insurance policy to a 20-year-old female for $300. According to the National Vital Statistics Report, 58(21), the probability that the female survives the year is 0.999544. The expected value of this policy to the insurance company is$222.48. What is the standard deviation of the value of the life insurance policy? Why is the value so high? Part 1 The standard deviation of the value of the life insurance is $arrow_forwardThe average student loan debt for college graduates is $25,650. Suppose that that distribution is normal and that the standard deviation is $14,350. Let X = the student loan debt of a randomly selected college graduate. Round all probabilities to 4 decimal places and all dollar answers to the nearest dollar.b Find the probability that the college graduate has between $28,800 and $41,400 in student loan debt. c. The middle 20% of college graduates' loan debt lies between what two numbers? Low: $ High: $arrow_forwardOne year consumers spent an average of $22 on a meal at a resturant. Assume that the amount spent on a resturant meal is normally distributed and that the standard deviation is $3.Complete parts (a) through (c) below. a. What is the probability that a randomly selected person spent more than $24?arrow_forward
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