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Ghella [55]
3 years ago
14

A bank is reviewing its risk management policies with regards to mortgages. To minimize the risk of lending, the bank wants to c

ompare the typical mortgage owed by their clients against other homebuyers. The average mortgage owed by Americans is $306,500, with a standard deviation of $24,500. Suppose a random sample of 150 Americans is selected. Identify each of the following, rounding your answers to the nearest cent when appropriate:
1. $mu=?
2. $sigma=?
3. $=n=$
4. $mu_{overlinex}=$x=?
5. $sigma_{overlinex}=$x=?
Mathematics
1 answer:
Mariana [72]3 years ago
5 0

Answer:

1. $ \mu = \$306,500 $

2. \sigma = \$24,500

3. n = 150

4. $ \mu_{x}= \mu = \$306,500 $

5. \sigma_x = \$ 2,000 \\\\

Step-by-step explanation:

The average mortgage owed by Americans is $306,500, with a standard deviation of $24,500.

From the above information, we know that,  

The population mean is

$ \mu = \$306,500 $

The population standard deviation is

\sigma = \$24,500

Suppose a random sample of 150 Americans is selected

n = 150

Since the sample size is quite large then according to the central limit theorem, the sample mean is approximately normally distributed.

The sample mean would be the same as the population mean  that is

$ \mu_{x}= \mu = \$306,500 $

The sample standard deviation is given by

\sigma_x = \frac{\sigma}{\sqrt{n} }

Where \sigma is the population standard deviation and n is the sample size.

\sigma_x = \frac{24,500}{\sqrt{150} }  \\\\\sigma_x = \$ 2,000 \\\\

Therefore, the required parameters are:

1. $ \mu = \$306,500 $

2. \sigma = \$24,500

3. n = 150

4. $ \mu_{x}= \mu = \$306,500 $

5. \sigma_x = \$ 2,000 \\\\

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no

Step-by-step explanation:

3/6 is a ratio that is less than one and 6/3 is greater than one

think about them in their fraction form... ratios are forms of fractions

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Step-by-step explanation:

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Step-by-step explanation:


6 0
3 years ago
The first three steps of completing the square to solve the quadratic equation x² + 4x - 6 = 0, are
slavikrds [6]

Answer:

The next 3 steps are

Step 4: (x+2)=\pm \sqrt{10}

Step 5: x=-2\pm \sqrt{10}

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Step-by-step explanation:

Given:

Quadratic Equation is

x² + 4x - 6 = 0

To Find:

x = ?

Solution:

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8 0
3 years ago
The ratio of dogs to cats at an animal shelter is 33 to 22. How many dogs are at the shelter if there is a total of 3030 animals
Elena-2011 [213]
D : c = 33 : 22
where d is the number of dogs and c is the number of cats;
and: d + c = 3030
33 c = 22 d  / : 11
3 c = 2 d
From the other equation: c = 3030 - d
3 * ( 3030 - d ) = 2 d
9090 - 3 d = 2 d
5 d = 9090
d = 9090 : 5
d = 1818
Answer: There are 1818 dogs in the shelter.
 
4 0
3 years ago
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