The price of a four-star dinner was $100 two decades ago. A report says that a dinner is 250% of what it was 20 years ago, how m
1 answer:
The dinner will cost $250 today.
<u><em>Explanation</em></u>
The price of a four-star dinner was $100 two decades ago and now the cost of the dinner is 250% of what it was 20 years ago.
So for finding the current cost, we will find 250% of $100 .
First we need to make 250% as decimal form after dividing it by 100. So....
250% =
Now we will multiply this 2.50 with $100 for getting the current cost of the dinner.
Thus, the current cost
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Answer:
Step-by-step explanation:
Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".
The central limit theorem states that "if we have a population with mean μ and standard deviation σ and take sufficiently large random samples from the population with replacement, then the distribution of the sample means will be approximately normally distributed. This will hold true regardless of whether the source population is normal or skewed, provided the sample size is sufficiently large".
The Z-score is "a numerical measurement used in statistics of a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean".
Data given
n = 25000 represent the automobile policy holders
represent the population mean
represent the population standard deviation
Let T the variable that represent the total of interest on this case. We can assume that the random variable for an individual policy holder is given by:
From the central limit theorem we know that the distribution for the sample mean is given by:
Solution to the problem
First we need to find the distribution for the random variable T like this:
And the total T is given by:
We can find the expected value, variance and deviation for this random variable like this:
And we are interested on this probability:
And we can use the Z score formula given by: