What is number 3 and 4

To use a Normal distribution to approximate the chance the sum total will be between 3000 and 4000 (inclusive), we use the area from a lower bound of 3000 to an upper bound of 4000 under a Normal curve with its center (average) at 3500 and a spread (standard deviation) of 160 . The estimated probability is 99.82%.

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal probability distribution

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean $\mu$ and standard deviation $\sigma$ , the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean $\mu$ and standard deviation $s = \frac{\sigma}{\sqrt{n}}$ .

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

For sums, we have that the mean is $\mu*n$ and the standard deviation is $s = \sigma \sqrt{n}$

In this problem, we have that:

$\mu = 100*35 = 3500, \sigma = \sqrt{100}*16 = 160$

This probability is the pvalue of Z when X = 4000 subtracted by the pvalue of Z when X = 3000.

X = 4000

$Z = \frac{X - \mu}{\sigma}$

By the Central Limit Theorem

$Z = \frac{X - \mu}{s}$

$Z = \frac{4000 - 3500}{160}$

$Z = 3.13$

$Z = 3.13$ has a pvalue of 0.9991

X = 3000

$Z = \frac{X - \mu}{s}$

$Z = \frac{3000 - 3500}{160}$

$Z = -3.13$

$Z = -3.13$ has a pvalue of 0.0009

0.9991 - 0.0009 = 0.9982

So the correct answer is:

To use a Normal distribution to approximate the chance the sum total will be between 3000 and 4000 (inclusive), we use the area from a lower bound of 3000 to an upper bound of 4000 under a Normal curve with its center (average) at 3500 and a spread (standard deviation) of 160 . The estimated probability is 99.82%.

5 0

3 years ago

Suppose the probability of selling a car today is 0.28. Find the odds against selling a car today.

Nat2105 [25]

Answer: 99.78%

Step-by-step explanation:

100% - .28 = 99.78

3 0

3 years ago