1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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 \\\\

You might be interested in
Twenty percent of the 640 pitches Kendall threw last year were strikes. Which table can be used to find the number of strikes sh
Ksju [112]

Answer:

1 out of every 5 throws were strikes.

Step-by-step explanation:

20% is one fifth of 100%.

5 0
3 years ago
Read 2 more answers
Find the highest common factor of 35 and 8C.
Kaylis [27]

Answer:

Factors of 35 = 1, 5, 7 and 35

Factors of 8= 1, 2, 4, 8.

common = 1

7 0
2 years ago
The odds that you will pick a heart from a standard deck of 52 cards is 13:39.
podryga [215]
Not exactly sure but I think it's false hope this helps
3 0
3 years ago
What must be true of two rational expressions before they can be added?
VladimirAG [237]

Answer:

They most have common denominators.

Step-by-step explanation:

Let the following two rational expressions:

\frac{p}{a}  , \frac{q}{b}

where p,a,q, b are integers, a and b the denominators are not 0, i.e. a,b\neq 0

We can add rational expressions only if their denominator is same.

That is why we find LCD to be ab.

Then,

\frac{p}{a} +\frac{q}{b} =\frac{pb+qa}{ab}

Let the following two rational expressions:

\frac{p}{a}  , \frac{q}{b}

where p,a,q, b are integers, a and b the denominators are not 0, i.e. a,b\neq 0

We can add rational expressions only if their denominator is same.

That is why we find LCD to be ab.

Then,

\frac{p}{a} +\frac{q}{b} =\frac{pb+qa}{ab}

So, the correct answer is the last option that we can sum rational expressions if they have common denominator.

3 0
3 years ago
Proper order from least to greatest 2/3,7/6,1/8,9/10
notsponge [240]
It's already in order
5 0
3 years ago
Other questions:
  • A random sample of 8888 eighth grade​ students' scores on a national mathematics assessment test has a mean score of 278278. Thi
    13·1 answer
  • Select the proper order from least to greatest for 2⁄3 , 7⁄6 , 1⁄8 , 9⁄10 . A. 2⁄3 , 9⁄10 , 7⁄6 , 1⁄8 . B. 1⁄8 , 9⁄10 , 7⁄6 , 2⁄
    13·2 answers
  • What is 6 7/12-2 1/6
    9·1 answer
  • 14+16+49+10<br><br>Hint: Add what will get a tens number first!
    12·2 answers
  • 42) According to the 2000 Census the population of Canton was 7,720. Holly Spring's population was 3,200. Canton's population in
    15·1 answer
  • If the first term in a sequence is -18 and each term after the first is 4 times the preceding term. Which of the following expli
    12·1 answer
  • Evaluate [(40 + 5) − 32] ÷ 9 ⋅ 2<br><br> 9.3<br> 8.6<br> 8<br> 2
    8·2 answers
  • Explain how to use a model to show 2/6 ÷ 1/12 and 2/6 ÷ 4
    12·1 answer
  • The price for 7 lb of potatoes is $5 what is the price per pound.​
    6·1 answer
  • The points in the table lie on a line. find the slope of the line.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!